Lupin shares gain 3% as Investec expects strong FY26 show, raises price target

Shares of Lupin rose over 3% on Friday after brokerage Investec assigned a buy call on the pharma stock. The brokerage has raised the pharma stock's target price to Rs 2,265 against Rs 2,100 earlier. Investec said Lupin was well placed to ride upcoming GLP-1 opportunity in India. The firm has a strong ecosystem across diabetes, cardiac, diagnostics, consumer & digital space. The momentum in the US business is driven by strong execution and consistent delivery in complex generics. 

The brokerage finds the valuations of the pharma stock reasonable post the recent correction. 

Shares of Lupin are trading at a FY27 price-to-earnings multiple of 22.5 times, which is well below the five-year average multiple of 32 times, according to the brokerage. 

In its base case, Investec expects a strong FY26, followed by moderation in FY27, with EPS growth resuming in FY28.
In the current session, the Lupin stock rose 3.33% to Rs 2055 on BSE. Market cap of the firm climbed to Rs 93,589 crore. Total 0.48 lakh shares of the firm changed hands amounting to a turnover of Rs 10.01 crore on BSE.    

Earlier, the stock opened higher at Rs 2055 on BSE. Stock of Lupin has lost 9% per cent in a year and fallen 13.41 per cent in 2025.

In Q1 of this fiscal, the pharma firm reported a 52% rise in net profit at Rs 1,219 crore. Revenue for the quarter stood at Rs 6,268 crore, up 11.9% from Rs 5,600.3 crore a year ago. 

EBITDA margin rose to 27.6% against 22.2% in the same quarter last year and higher than the expected 25.4%.