Lupin share price jumped 8.18% significantly today, July 4, 2024, primarily due to a double upgrade from Kotak Institutional Equities (KIE). Kotak changed its rating on Lupin from a ‘sell’ to an ‘add’ and raised its fair value target to ₹1,805 from ₹1,400. This positive outlook is based on Kotak’s analysis of Lupin’s US portfolio, which they believe is well-positioned for growth in the coming years.
Lupin Share Performance on July 4, 2024, showed positive growth:
- Lupin Share Today’s Closing Price: ₹1764.05
- Percentage Increase: 8.18% compared to the opening price
- Opening Price: ₹1651.15
- High Price: ₹1767.00
- Low Price: ₹1651.15
- Lupin Share Price rose up 451.20 points with 34.37% increase in year to date(YTD).
Kotak believes Lupin’s US portfolio is well-positioned for growth in the coming fiscal years, with several key products expected to drive sales. They anticipate that Lupin’s US sales will outperform market expectations in FY25 and FY26.
Lupin has a strong product pipeline with potential blockbusters like gSpiriva and gAlbuterol. Additionally, upcoming launches like gMyrbetriq and Tolvaptan are expected to contribute significantly to US sales in FY25and FY26.
Despite the recent rally, Kotak finds Lupin’s valuations attractive compared to its historical average. They believe that the current stock price doesn’t fully reflect the company’s growth potential.
Lupin has made significant progress in resolving regulatory issues at its key manufacturing facilities. This reduces the risk of further regulatory action and potential disruption to production.
Overall, Kotak Institutional Equities (KIE) is the research and analysis division of Kotak Mahindra Bank. It is a leading brokerage and equity research firm in India, providing a wide range of services. Kotak is optimistic about Lupin’s future prospects, citing a strong US portfolio, robust product pipeline, improving profitability, and attractive valuations as key reasons for the upgrade.