Lupin hits a new high

Lupin is in the news today morning; the stock, which had closed yesterday at Rs.873.80, opened slightly higher at Rs.875.05 and soon went on to hit a new 52-week high at Rs.889.90.

The stock has hit a new high today on unconfirmed news that the company is considering a demerger of its active pharmaceutical ingredients (API) business.

This is apparently being done to unlock value though the “sources” have no confirmation on whether or not there will be a potential listing of this demerged unit or whether there will be an exit through a stake sale.