Lupin Ltd News

Drugmakers Lupin Ltd and Cipla Ltd will make way for the two banks, according to a statement from Asia Index Pvt Ltd. 

Generic drugmakers Lupin Ltd and Cipla Ltdare among the companies bidding for top Belgian drugmaker UCB SA`s U.S. generic drugs business, a leading dailey reported on Monday, citing unnamed people with knowledge of the matter.

The Nifty rose after hitting nearly 1-1/2 month low on Tuesday as investors churned positions in defensive stocks such as Lupin Ltd from pharmaceutical sector on worries the record setting rally has run ahead of fundamentals.

The Reserve Bank on Thursday said foreign institutional investors and registered foreign portfolios investors can now invest up to 49 percent of the paid-up capital in Lupin Ltd under Portfolio Investment Scheme (PIS).

Lupin Ltd , India`s fourth-largest drugmaker by sales, reported a higher-than-expected profit in the first quarter, helped mainly by higher sales in the United States and India, and lower expenses.