Cipla gains 3%, hits record high; trades higher for 5th straight day

Analysts at ICICI Securities have maintained a 'buy' rating on the stock with target price of Rs 1,100 on the stock

Shares of Cipla hit a record high of Rs 1,014, up 3 per cent on the BSE in Friday’s intra-day trade and surpassed its previous high of 1,005 touched on September 29, 2021. The stock of pharmaceutical company traded higher for the fifth straight day, up 6 per cent during this period. In comparison, the S&P BSE Sensex was up 0.13 per cent at 55,535 points at 11:14 am.

In the last 10 trading days, the stock has rallied 10 per cent after the company on February 27, announced that it has received an approval from the Subject Expert