Lupin jumps as FII limit hiked
By
Research Desk
about 10 years ago
Lupin hit a new high today at Rs.1559.90 with volumes surging 1.5 times and it continues to trade around the same high levels.
The stock hit a new high after the company informed the exchanges today afternoon that the Cabinet Committee on Economic Affair gave its approval to the proposal of the Company to increase in aggregate limit of investment by Flls and their sub-accounts registered with SEBI, from 33% to 49%.
Apart from benefitting Lupin, this stake hike for FIIs will bring in foreign investment to the tune of around Rs.6100 crore.