Cipla gains on bargain hunting

Cipla rose 0.69% to Rs 634.10 at 13:35 IST on BSE on bargain hunting after dropping 4.9% in prior three sessions.

Meanwhile, the BSE Sensex was up 127.30 points, or 0.47% , to 26,940.72.

On BSE, so far 64,952 shares were traded in the counter, compared with an average volume of 1.9 lakh shares in the past one quarter.

The stock hit a high of Rs 637 and a low of Rs 625.80 so far during the day. The stock hit a record high of Rs 752.45 on 10 March 2015. The stock hit a 52-week low of Rs 385 on 5 June 2014.

From a recent high of Rs 662.20 on 1 June 2015, the stock fell 4.9% in three sessions to settle at Rs 629.75 on 4 June 2015.

The stock had underperformed the market over the past one month till 4 June 2015, dropping 6.57% compared with 2.46% decline in the Sensex. The scrip had also underperformed the market in past one quarter, slipping 13.1% as against Sensex's 8.74% fall.

The large-cap pharma company has an equity capital of Rs 160.59 crore. Face value per share is Rs 2.

Cipla had said after trading hours on 3 June 2015, it has received approval from United States Food & Drug Administration (USFDA) for an innovative formulation Lopinavir/ritonavir (LPV/r) 40mg/10 mg oral pellets for pediatric specific treatment for infants. This vaccine is prescribed for the treatment of AIDS in infants and young children.

Cipla's consolidated net profit fell 0.4% to Rs 259.66 crore on 20.8% rise in total income to Rs 3153.89 crore in Q4 March 2015 over Q4 March 2014.

Powered by Capital Market - Live News