Lupin Founders Rejig Holdings Amid Stock Slump: Chart
Lupin’s Slump Spurs Insiders to Buy $3 Billion of Shares: Chart
(Bloomberg) -- Companies belonging to founders of Lupin Ltd. have transferred shares among themselves amid a 30 percent plunge in the stock, the worst-performer this year on the benchmark S&P BSE Sensex. Lupin Investments Pvt., other group firms and insiders internally transferred or bought $3.1 billion of shares, data for the September quarter compiled by Bloomberg show. India’s second-biggest drugmaker by revenue trades at 18.6 times reported profits, versus 23.8 for the Sensex, with the valuation discount being near the widest since 2009.
To contact the reporters on this story: Fox Hu in Hong Kong at fhu7@bloomberg.net, Abhishek Vishnoi in Singapore at avishnoi4@bloomberg.net.
To contact the editors responsible for this story: Divya Balji at dbalji1@bloomberg.net, Ravil Shirodkar
