Lupin up 6.36% on bonus issue buzz

DALAL STREET SPIKES

Lupin shares were up 6.36 per cent to Rs 1,237.35 on bonus issue proposal, and strong Q4 and FY06 results. 1.65 lakh shares were traded on the BSE compared with an average 61 thousand shares.

Lupin's board recommended an issue of bonus shares in the ratio of 1:1. The company has also declared Q4 and FY06 results for the period ended 31 March 2006.

The net profit of the company jumped 130 per cent to Rs 50.19 crore in Q4 March 2006 compared with Rs 21.73 crore in the same period last year. Total income for the same period increased from Rs 299.48 crore to Rs 463.02 crore.

The net profit for FY06 jumped 116 per cent to Rs 182.72 crore compared with Rs 84.36 crore in FY05. Total income during the same period rose from Rs 1,179.90 crore to Rs 1,678.61 crore.

The board has recommended for the year ended 31 March 2006 a dividend of 65 per cent (Rs 6.50 per equity share). The stock has been moving up steadily.