Lupin share price hits 52-week high, up about 65% in a year; should you buy or book profit?
Lupin share price rose over 4 per cent to hit its fresh 52-week high of ₹1,078 in intraday trade on BSE on Friday (August 4), looking set to extend their gains into the fifth consecutive session. Shares of the company jumped a day after the company reported its June quarter scorecard. Lupin reported a consolidated net profit of ₹453.33 crore for Q1FY24 against a consolidated net loss of ₹86.82 crore in the same quarter of the previous financial year.
Total revenue from operations for the quarter stood at ₹4,814.06 crore against ₹3,743.84 crore in the same quarter last year. In the last three months, Lupin shares have risen over 46 per cent against a 7 per cent gain in the equity benchmark Sensex. In the last one year, they are up 65 per cent against a 12 per cent gain in the Sensex index.
On a monthly basis, Lupin shares have been in the green since April 2023. We talked to analysts to understand what is the road ahead for Lupin stock and whether one should buy it at this juncture or book profit. Here's what they said.
We believe Lupin has witnessed traction for the last few months led by its healthy revenue and improved profitability from the last two quarters. The strong performance was aided by niche launch in gSpiriva and Cyanocobalamin nasal spray. These products will likely play a pivotal role in the FY24 earnings revival as well.
At the current juncture, the valuation of the company looks attractive. Thus, we believe that the long-term growth outlook for Lupin remains intact, and is expected to deliver robust performance in upcoming quarters. Lupin was one of the large-cap stocks which witnessed a reversal earlier than the pharma index.
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