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Lupin Ltd and HDFC Bank gained in early trade on Thursday after government approved the companies’ investment plans.
Lupin rose 1.6 per cent to a record high of Rs 1,539 on the NSE. The stock has corrected since and was trading at Rs 1,526 at 10.10 am. The Government has allowed Lupin to increase foreign investment limit to 49 per cent from 33 per cent.
Similarly, HDFC Bank rose as much as 1.8 per cent to Rs 1,077 on the NSE in initial trade. At 10.10 am, it was trading at Rs 1,069.85.
The Government has approved HDFC Bank’s plan to raise Rs 10,000 crore via a share issue.
The move will facilitate further investment inflow, according to an analyst.
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