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This stock held by Rakesh Jhunjhunwala rose 18% in a week

The pharma stock, which forms part of ace investor Rakesh Jhunhjhunwala's portfolio, has gained 40.97 per cent in one year and risen 23 per cent since the beginning of this year

twitter-logoBusinessToday.In | May 11, 2021 | Updated 16:44 IST
The pharma stock, which forms part of ace investor Rakesh Jhunhjhunwala's portfolio, has gained 40.97 per cent in one year and risen 23 per cent since the beginning of this year.

Pharma stocks are in focus amid the ongoing Covid-19 pandemic in India. Shares of Lupin rose 2 per cent to hit a fresh 52-week high of Rs 1,246.30 after the pharma major announced that it has entered into a royalty-free, non-exclusive voluntary licensing agreement with U.S.-based Eli Lilly for expanding access to Lilly's drug, Baricitinib in India.

The pharma stock, which forms part of ace investor Rakesh Jhunhjhunwala's portfolio, has gained 40.97 per cent in one year and risen 23 per cent since the beginning of this year. Lupin share stands higher than 10 day, 20 day, 50 day, 100 day, and 200 day moving averages.

Rakesh Jhunjhunwala held 1.6 per cent stake or 72,45,605 Lupin shares at the end of Q4

As per the share price history, Lupin's share at BSE closed at Rs 1057.25 on May 4, 2021. It hit an intraday high of Rs 1,246.30 in today's morning session. Hence in a week, the stock has delivered nearly 18 per cent returns. On NSE, the share hit a fresh 52 week high of Rs 1,246.80. It closed 1.84 per cent lower at Rs 1,200 against the previous close of Rs 1,222.55.

Lupin will announce its Q4 earnings on May 13. In Q3 of the previous fiscal,  the pharma firm reported a consolidated net profit of Rs 438.25 crore against a net loss of  Rs 835 crore for the corresponding period of the previous fiscal.

Consolidated revenue from operations stood at  Rs 3,917.30 crore for the quarter under consideration. It was at  Rs 3,716.09 crore for the same period a year ago.

Recently, Reserve Bank of India (RBI) Governor Shaktikanta Das unveiled a Rs 50K crore liquidity facility for emergency healthcare amid the second wave of coronavirus. The emergency healthcare facility is likely to benefit vaccine makers and pharma products, manufacturers. The RBI will open an on-tap liquidity window of Rs 50,000 crore with up to three-year tenor at repo rate till March 31, 2022.

Meanwhile, Sensex ended 340 points lower at 49,162 and Nifty fell 91 points at 14,851, dragged by selling in metals, pharma, and IT stocks.

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