The company made this announcement during trading hours today, 30 July 2008.

Meanwhile, the BSE Sensex was up 404.35 points, or 2.93%, to 14,195.89 on positive cues from global markets. US stocks rebounded on Tuesday, 29 July 2009, from previous day's steep fall as Merrill Lynch's latest write-down and share sale hinted at a possible turning point in the credit crisis. A further fall in oil price also aided recovery in equities.

On BSE, 64,041 shares were traded in the counter. The scrip had an average daily volume of 1.17 lakh shares in the past one quarter.

The stock hit a high of Rs 748 and a low of Rs 720.10 so far during the day. The stock had a 52-week high of Rs 759 on 23 July 2008 and a 52-week low of Rs 429.90 on 22 January 2008.

The mid-cap company had outperformed the market over the past one month till 29 July 2008, gaining 7.80% compared to the Sensex’s return of 2.45%. It had also outperformed the market in the past one quarter, gaining 26.94% compared to Sensex’s decline of 20.22%.

The company has an equity capital of Rs 82.14 crore. Face value per share is Rs 5.

The current price of Rs 737.25 discounts its Q1 June 2008 annualised EPS of Rs 52.88, by a PE multiple of 13.94.

Hormosan Pharma GmbH is engaged in sales and marketing of generics products. The company is specialised in the supply of pharmaceutical products for the central nervous system (CNS). Hormosan Pharma had total sales of 6.8 million euros in the year ended December 2007.

On 24 June 2008, Lupin entered into an agreement with US based Ascend Therapeutics Inc for promoting suprax 400 miligram tablets in the US market.

On 16 June 2008, Lupin received a tentative approval from US Food & Drug Administration (USFDA) for its escitalopram oxalate tablets in 10 & 20-milligram strengths.

Lupin’s net profit rose 38.5% to Rs 108.52 crore on 18.4% increase in net sales to Rs 712.42 crore in Q1 June 2008 over Q1 June 2007.

Lupin is engaged in manufacturing active pharmaceutical ingredients and formulations.