13 Feb 2026 | 5 Mins Read
Lupin shares drop 2% despite Q3 results beating expectations
Flipitmoney
Morgan Stanley reiterated its 'Equal-weight' rating on Lupin Limited, setting a target price of ₹2,221. The brokerage reported Lupin's Q3FY26 operational performance beating estimates, with revenue growth of 24% YoY and 67% YoY increase in EBITDA. Key highlights include strong US business growth and exceptional items of ₹426.57 crore, part of which included provisions for US litigation.