Lupin Share Price Target Rs 2000: 400% Cash Payout, July 16 - Record Date; Buy The Dividend Paying Stock?

Based in Mumbai, Lupin Limited is a global pharmaceutical firm from India. In more than 100 markets in the United States, India, South Africa, Asia Pacific (APAC), Latin America (LATAM), Europe, and the Middle East, the firm produces and sells a broad variety of branded and generic formulations, biotechnology products, and APIs. By prescriptions, Lupin ranks as the third-largest pharmaceutical firm in the United States. In FY24, research and development accounted for 7.8% of the company's revenue. Lupin is a multinational company with over 20,000 employees, 15 manufacturing spots, 7 research centres, and a long history of being named a "Great Place to Work" in the biotechnology and pharmaceuticals industry.

Lupin Upcoming Dividend 2024

"We wish to state that pursuant to the provisions of Section 91 of the Companies Act, 2013 ('Act') read with Rule 12 of the Companies (Management and Administration) Rules, 2014 and Regulation 42 of the Listing Regulations, the Company has fixed Tuesday, July 16, 2024, as the 'Record Date' for the purpose of ascertaining the shareholders who will be entitled to payment of Dividend, if declared at the AGM. Dividend for the year ended March 31, 2024, @ 400% i.e. Rs 8.00 per equity share of Rs 2/- each, if declared at the AGM, shall be paid within 30 days from the date of AGM to those Members whose names appear: a) as beneficial owners at the end of business hours on Tuesday, July 16, 2024, as per lists furnished by Central Depository Services (I) Limited and National Securities Depository Limited, in respect of shares held in electronic form; and b) on the Register of Members of the Company as on Tuesday, July 16, 2024, as per the list furnished by Link Intime India Pvt. Ltd., Registrar and Share Transfer Agent ('RTA'), in respect of shares held in physical form. Dividend shall be remitted electronically, wherever relevant bank details are available, and the rest shall be paid through Pay orders," said the company in a regulatory filing.

Lupin Financials

With a gross margin of 67.8%, the company's gross profit was Rs 33,213 million, up from Rs 33,538 million in Q3 FY2024. For the quarter, R&D expenditure amounted to Rs 4,255 million. As of March 31, 2024, the firm had an operating working capital of Rs 56,913 Mn and capital expenditures of Rs 1,059 Mn for the March quarter. As of March 31, 2024, Lupin's net debt was Rs 4,766 million, and its net debt-to-equity ratio was 0.03. India's formulation sales for FY 2024 were Rs 66,564 million, up 9.6% from Rs 60,759 million in FY2023; however, sales of India Region formulation dropped by 10.1% over the quarter from Q3 FY2024.

Lupin Share Price Target

Mandar Bhojane - Equity Research Analyst at Choice Broking said, "The current trading price of LUPIN is Rs 1774. The stock has recently breakout of range on the daily chart with a significant increase in trading volume, indicating a potential breakout. If the price manages to close above the Rs 1775 level, it may have the potential to reach short-term targets of Rs 1900 & Rs 2000. On the other hand, immediate support levels are located at Rs 1600. These levels can be considered as opportunities to buy on dips."

"The Relative Strength Index (RSI) currently stands at 75 and is trending upward, indicating increasing buying momentum. To prudently manage risk, it is advisable to set a stop-loss (SL) at Rs 1550. This precaution will help protect your investment in case of an unexpected market reversal. In summary, considering the technical analysis and the current market conditions, LUPIN appears to present an appealing buying opportunity for those aiming for a Rs 1900 & Rs 2000 price target, provided that appropriate risk management measures are in place," the analyst commented.

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.