Lupin Stock Price: The share of pharma company Lupin Ltd (NSE: LUPIN) rose 2 percent on August 30. A new 52-week high was created during the day.
A major international brokerage company has issued a buy option for the stock. The target price has been raised to 2,427 rupees per share. This is 8 percent higher than the closing price of Lupin Ltd stock on BSE on August 30.
Lupin Ltd stock opened with a gain at Rs 2234.85 in the morning. The price then climbed upwards to around 3 percent higher than the closing price and then hit an all-time high of 2255.35 rupees.
This is a new 52-week high of the stock. As of the close of trading, the stock was 2% higher at 2239.80 rupees.
The price range for the upper end of the stock is 2,412.05 rupees. According to BSE data, the stock had seen a 52-week low of Rs 1,088.30 on September 1, 2023.
Lupin’s Share Price Doubled In One Year
Promoters held 46.98 percent stake in Lupin Ltd as of June 30, 2024, and public shareholders held 53.02 percent. The company’s market cap is Rs 1 lakh crore.
The share price has strengthened 100 percent in the last year. The brokerage sees the US market for generic drugs as a strong support for the company’s near-term earnings.
The brokerage firm also included higher revenue for Mirabegron in FY25 as well as Tolvaptan in FY26 and 2027 when compared with prior estimates.
This has led to a 28 percent and 54 percent increase in EPS estimates for FY25 and 2026, respectively.
Profits Increased 77% In The June Quarter
Lupin Ltd’s net profit in the April-June 2024 quarter rose 77.2 percent year-on-year to Rs 801.3 crore.
The revenue from operations grew by 16 % over the year to 5,600.3 crore rupees. It was at 4,814 crore rupees just a year ago.
Quick Fact
| Company name | Lupin |
|---|---|
| Stock rise | 2% on August 30 |
| Target price | Possible ₹2,427 per share |
| Stock gain | 3% higher than the closing price |
| Stock high | ₹2,255 on August 30 |
| Promoter stake | 47% as of June 2024 |
| Public stake | 53% as of June 2024 |
| Market cap | ₹1 lakh crore |
| Share growth | 100% in last year |
| US market focus | Generic drugs |
| Revenue growth | 16% in June 2024 quarter |
| Revenue amount | ₹5,600 crore |
| Profit increase | 3% higher than a closing price |
| Profit amount | ₹801 crore |
| 77% in the June 2024 quarter | 28% |
| EPS estimate increases FY25 | 54% |
| High revenue products | Mirabegron, Tolvaptan |
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