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ICICI Securities said Lupins performance was below expectations due to a dip in US sales and lower gross margin. It said US sales would remain under pressure and multiple ongoing USFDA issues would weigh on new approvals. ....
Trading volume on the counter was almost three times higher than its two-week average trading volume on BSE. Over 5.25 million shares changed hands till 1.15 pm on both BSE and NSE. ....
Brokerages raise target price on Lupin by up to 50% CLSA retained a ‘sell’ rating saying that the key positives are more than priced in at 27 times FY23 price to earnings. Synopsis Progress on other respiratory assets, biosimilars and resolution of warning letters will enhance medium-term growth visibility, said Kotak Institutional. Mumbai: Brokerages have raised target price on Lupin by 9-50% after the company on Thursday reported an 18% increase in its consolidated net profit for the March quarter. Shares of Lupin ended down 2.6% at ₹1,178.80 on Friday. Kotak Institutional Equities said Lupin is well positioned to deliver strong margin expansion over FY22-23. Progress on other respiratory assets, biosimilars and resolution of warning letters will enhance medium-term ....
NEW DELHI: Nifty Pharma index was trading with losses at 01:50PM (IST) on Wednesday. Shares of Lupin (down 2.42 per cent), Cipla (down 2.06 per cent), Sun Pharma (down 2.0 per cent), Dr Reddy s Laboratories (down 1.77 per cent) and Cadila Healthcare (down 1.6 per cent) were the top losers in the index. While Aurobindo Pharma (up 0.78 per cent) were among the top gainers. The Nifty Pharma index was trading 1.3 per cent down at 11856.4 around 01:50PM. Benchmark NSE Nifty50 index was down 88.60 points at 14821.85, while the BSE Sensex was down 228.83 points at 50135.13. Among the 50 stocks in the Nifty index, 7 were trading in the green, while 43 were in the red. ....