Shares of Lupin rise as Nifty drops
Lupin Ltd. gained 0.98 per cent to Rs 1094.4 in Wednesday's trade as of 10:05AM (IST). It hit a high of Rs 1108.95 and low of Rs 1088.25 during the session.
The stock quoted a 52-week high price of Rs 1108.95 and a low of Rs 623.2. The return on equity for the stock stood at 3.49 per cent. About 31,843 shares have changed hands on the counter so far.
The stock's beta value, which measures its volatility in relation to the broader market, stood at 0.75. The scrip has been an outperformer, up 64.31 per cent in the past one year in comparison with a 12.44 per cent gain in Sensex.Technicals On the technical charts, the 200-day moving average (DMA) of the stock stood at Rs 623.2 on August 09, while the 50-DMA was at Rs 905.95. If a stock trades well above 50-DMA and 200-DMA, it usually means the immediate trend is upward.
On the other hand, if the stock trades well below 50-DMA and 200-DMA both, it is considered a bearish trend and if trades between these averages, then it suggests the stock can go either way.Promoter/FII Holding Promoters held 46.79 per cent stake in Lupin Ltd. as of 30-Jun-2023. Mutual funds and foreign institutional investors held 17.0 per cent and 13.94 per cent stake.
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