Lupin shares drop 0.5% as Sensex falls

Shares of Lupin Ltd. traded 0.5 per cent lower in Wednesday's session at 11:29AM (IST). The stock opened at Rs 752.0 and has touched an intraday high and low of Rs 753.0 and Rs 734.25, respectively, during the session so far.

The stock quoted a 52-week high of Rs 788.9 and a 52-week low of 583.05. About 68,823 shares changed hands on the counter so far.

Benchmark Nifty50 was down 5.4 points at 18260.55, while the BSE Sensex traded 15.62 points lower at 61745.71 at the time of writing of this report.

In the Nifty pack, 23 stocks traded the day in the green, while 27 were in the red.


Key Financials
For the quarter ended 31-Dec-2022, the company reported consolidated sales of Rs 4340.18 crore, up 4.32 per cent from the previous quarter's Rs 4160.46 crore and up 3.46 per cent from the year-ago quarter. The company reported net profit of Rs 153.47 crore for the latest quarter.

Promoter Holdings
Promoters held 47.08 per cent stake in the company as of 31-Mar-2023, while FIIs held 13.32 per cent and MFs 16.96 per cent.

Technicals
On the technical charts, the 200-Day Moving Average (DMA) of the stock stood at Rs 697.42 on May 10, while the 50-DMA was at Rs 673.95. If a stock trades 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 as bearish trend and if trades between these averages, then it suggests the stock can go either way.