Shares of Lupin Ltd. fell 3% on Thursday after media reports said that CLSA maintained a "sell" call on the stock and cut its price target to Rs650 from Rs660 per share.
Lupin reported a consolidated net loss of Rs127.1cr in Q2FY20 vs. a net profit of Rs266cr in the year-ago period. It posted a one-time loss of Rs546.5cr.
CLSA said that the Solosec ramp-up remains weak and the US generic launch pipeline remains thin. The firm also said that the Rs540cr provision has resulted in a cut of FY20 EPS by 36%.
Stock View:
Lupin Ltd is currently trading at Rs744.15 down by Rs28 or 3.63% from its previous closing of Rs772.15 on the BSE.
The scrip opened at Rs748 and has touched a high and low of Rs754.05 and Rs738.60 respectively. So far 15,04,684 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs35,132.83cr.
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