Date:01/06/2006 URL: http://www.thehindubusinessline.com/2006/06/01/stories/2006060103291700.htm

Back Lupin loses on disappointing Q4 nos

Disappointing fourth quarter results seemed to have forced investors to trim their holdings in Lupin Ltd. The company's shares have come down 20.86 per cent from early this month (Rs 1,275) to Rs 1,009.0 on the BSE. On Wednesday, the shares fell 5.83 per cent from the previous close of Rs 1,094.75. A leading foreign brokerage has put the stock on `underweight' due to "modest growth expectation and rich valuation." The stock is trading at 22 times one-year forward earnings, the brokerage said in a note. The pharmaceutical company, which is active in developing markets with anti-TB and cephalosporin range of products, reported a net profit of Rs 50.2 crore for the fourth quarter, largely on account of other income, the note added.

Rajesh Abraham