Lupin shares surge over 6%


Goa: Shares of pharma firm Lupin soared over 6 per cent on Thursday after the company received Establishment Inspection Report (EIR) from the US health regulator for its Goa facility, regarding an inspection done by the USFDA in July last year.

Lupin shares closed 6.25 per cent up at Rs 1657.30. The scrip opened at Rs 1563 and has touched a high and low of Rs 1695.95 and Rs 1551.05, respectively, in trade. Sensex settled 34.62 points up at 27,201.49.

The responses from March 2016 USFDA inspection and updates thereafter are still under review by the agency. For the quarter ended March 31, 2016, Lupin reported a consolidated net profit of Rs 807.08 crore, up 47.54 per cent, against Rs 547.01 crore in the corresponding quarter a year ago.