Shares of Lupin Ltd. rose for the second day. Know why

Lupin Ltd., a top pharma company, rose for the second day in a flat to weak market on news that the company had got a nod from the US pharma regulator to sell an anti-inflammatory drug.

Lupin said it got an approval from the US FDA to sell its version of Diclofenac Sodium in the US market, which helped its shares to buck a wider trend.

Lupin rose 45 rupees, or 2.5 percent, to 1,873 rupees on the National Stock Exchange, where 9.03 lakh shares were traded compared with the 5-day average of 17.8 lakh shares.

Lupin's market capitalisation has gained 46 percent in the past one year to 82,900 crore rupees as investors preferred the relative safety of export-oriented pharma companies.

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