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Mumbai, July 4

The Lupin counter has been witnessing hectic trading activity in the past couple of days, fuelled by rumours of the company being close to sealing an acquisition deal. Lupin has been scouting for acquisition opportunities in the US and Europe, for some time now. But a company official did not want to comment on the recent market speculation. Meanwhile, a broker said the company is close to acquiring a niche drug maker in the US or the UK; the acquisition is expected to be completed in the current quarter, he said. A section of the market also believes that Lupin has received a fresh approval from the US Food and Drug Administration (USFDA), though details were not available. The company scrip was up by 2.28 per cent on Wednesday to close at Rs 733.75. On a week-on-week basis, the scrip has strengthened by 3.16 per cent. Besides this, a big broker is also said to be active in the counter.

Adith Charlie

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