Index Drivers

Cipla

Previous Close: Rs 977.00

Friday Close: Rs 866.90

Cipla share price crashed 11 per cent lower as Andrx loses its case to sell omperazole, the generic version of Prilosec, against the patent holder AstraZeneca.

Cipla had entered into an agreement to supply the bulk drug to Andrx. This case has a significant bearing on Cipla's medium term performance both earnings as well as stock price. Analysts expect the stock to underperform in the short term.

Dr Reddy