Shares of Lupin rise as Nifty drops

Shares of Lupin rise as Nifty drops
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Synopsis

On the technical charts, the 200-day moving average of the stock stood at Rs 988.49.

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In effect, financial markets are betting that there is some reasonable approximation of normal on some foreseeable horizon.

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Shares of Ltd. gained 0.81 per cent to Rs 1062.95 in Friday's trade as of 11:49AM (IST). It hit a high of Rs 1065.0 and low of Rs 1049.55 during the session.

The stock quoted a 52-week high price of Rs 1121.85 and a low of Rs 808.5. The return on equity for the stock stood at -2.18 per cent. About 28,871 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 underperformer, up 27.28 per cent in the past one year in comparison with a 78.64 per cent gain in Sensex.

Technicals
On the technical charts, the 200-day moving average (DMA) of the stock stood at Rs 808.5 on April 30, while the 50-DMA was at Rs 1039.51. 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 46.58 per cent stake in Lupin Ltd. as of 31-Mar-2021. Mutual funds and foreign institutional investors held 13.05 per cent and 17.87 per cent stake.

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