The Cabinet Committee on Economic Affair (CCEA) Wednesday gave its approval to the proposal of Lupin for increase in aggregate limit of investment by FIIs and their sub-accounts registered with SEBI, from 33 percent to 49 percent.

The approval would result in foreign investment of Rs 60.99 billion (approximately) in the country.

Shares of the company gained Rs 20.45, or 1.35%, to trade at Rs 1,533.80 at the BSE (9.24 a.m., Thursday).