Lupin rose 1.28% to Rs 1,424.45 at 13:02 IST on BSE on buzz that the company is eyeing acquisitions in global market in US, Latin America and Europe.
Meanwhile, the S&P BSE Sensex was up 148.53 points or 0.55% at 27,390.31.
On BSE, so far 13,000 shares were traded in the counter as against average daily volume of 50,435 shares in the past one quarter.
The stock hit a high of Rs 1,430.50 and a low of Rs 1,417.45 so far during the day. The stock had hit a record high of Rs 1,500 on 24 November 2014. The stock had hit a 52-week low of Rs 855 on 30 January 2014.
The stock had outperformed the market over the past one month till 26 December 2014, declining 2.39% compared with Sensex's 4.03% fall. The scrip had, however, underperformed the market in past one quarter, advancing 1.92% as against Sensex's 2.31% rise.
The large-cap company has equity capital of Rs 89.84 crore. Face value per share is Rs 2.
According to reports, to expand its presence beyond India, Lupin is reportedly eyeing acquisitions in global market in US, Latin America and Europe. The company will continue to be on the lookout for meaningful targets in the inhalation, complex injectables and derma space, Ramesh Swaminathan, CFO, Lupin was reportedly quoted as saying.
On a consolidated basis, Lupin's net profit rose 55.1% to Rs 630.04 crore on 18.4% growth in net sales to Rs 3116.81 crore in Q2 September 2014 over Q2 September 2013.
Lupin is an innovation led transnational pharmaceutical company producing and developing a wide range of branded and generic formulations and APIs.
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