Lupin shines on getting nod to enter into business transfer agreement with LMSL
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Lupin is currently trading at Rs. 1155.00, up by 27.10 points or 2.40% from its previous closing of Rs. 1127.90 on the BSE.
The scrip opened at Rs. 1135.00 and has touched a high and low of Rs. 1174.25 and Rs. 1133.00 respectively. So far 51999 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1,174.25 on 12-Sep-2023 and a 52 week low of Rs. 623.20 on 19-Sep-2022.
Last one week high and low of the scrip stood at Rs. 1174.25 and Rs. 1118.75 respectively. The current market cap of the company is Rs. 51343.13 crore.
The promoters holding in the company stood at 47.07%, while Institutions and Non-Institutions held 43.30% and 9.64% respectively.
Lupin has received approval from board of directors to enter into a business transfer agreement with Lupin Manufacturing Solutions (LMSL), wholly owned subsidiary of the Company, to carve out two Active Pharmaceutical Ingredients (‘API’) manufacturing sites at Dabhasa and Visakhapatnam and select R&D operations, including fermentation, at Lupin Research Park, Pune. The consideration expected to be received is Rs 750.00 – Rs 850.00 crore, subject to movement in working capital and other items in the intervening period up to completion. The Board of Directors at its meeting held on September 11, 2023 has approved the same.
Lupin is an innovation led transnational pharmaceutical company producing, developing and marketing a wide range of branded and generic formulations, biotechnology products and active pharmaceutical ingredients (APIs) globally
