Lupin gains 2% as HSBC upgrades stock

Lupin, one of the leading pharmaceutical companies in India, gained on Thursday after global firm Hongkong and Shanghai Banking Corporation (HSBC) has upgraded the drug maker to 'Overweight' from 'Neutral'. HSBC has also raised its target price to Rs 650 from Rs 640.

Shares ofthe companyare trading at Rs 574, up Rs 11.3, or 2.01% at the Bombay Stock Exchange (BSE) on Thursday at 11:43 a.m.The scrip has touched an intra-day high of Rs 574.90 and low of Rs 558. The total volume of shares traded at the BSE is 46,287.In the earlier session, the shares lost 1.25%, or Rs 7.09, at Rs 562.70. Currently, the stock is trading down 9.16% from its 52-week high of Rs 631.90 and above 40.17% over the 52-week low of Rs 409.50.

Share Price Movement Period Pricein Rs Gain/(Loss) in Rs in % 1 Week 571.55 (8.85) (1.55) 1 Month 577.30 (14.60) (2.53) 3 Months 566.05 (3.35) (0.59) 6 Months 538.80 23.90 4.44 1 Year 475.25 87.45 18.40 Note: Based on previous day closing price.