Cipla gains on bargain hunting

Meanwhile, the S&P BSE Sensex was up 76.93 points, or 0.39%, to 19,687.41.

On BSE, 60,000 shares were traded in the counter as against an average daily volume of 1.27 lakh shares in the past one quarter.

The stock hit a high of Rs 378.40 and a low of Rs 369.40 so far during the day. The stock had hit a record high of Rs 435 on 9 January 2013. The stock had hit a 52-week low of Rs 300.70 on 12 June 2012.

The stock had underperformed the market over the past one month till 3 June 2013, sliding 8.17% compared with the Sensex's 0.18% rise. The scrip had also underperformed the market in past one quarter, sliding 0.24% as against Sensex's 3.66% rise.

The large-cap company has an equity capital of Rs 160.58 crore. Face value per share is Rs 2.

Cipla's net profit fell 8.3% to Rs 268 crore on 4.9% growth in revenue to Rs 1982 crore in Q4 March 2013 over Q4 March 2012.

Cipla is one of India's leading pharmaceutical companies. With over 34 manufacturing units across the country, the company manufactures over 2,000 products in 65 therapies.

Powered by Capital Market - Live News