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Cipla shares rise nearly 2 pc

Press Trust of India  |  New Delhi 

Shares of Cipla on Thursday rose nearly 2 per cent after the pharma major said its arm has signed an agreement with CitiHealth Imports to acquire remaining 40 per cent stake in Cipla Pharma Lanka.

On the BSE, the stock was up 1.83 per cent at Rs 476.35.

The stock moved 1.81 per cent higher to trade at Rs 476.50 on the NSE.

The pharma company on Wednesday said its arm Cipla (EU) Ltd has signed an agreement with CitiHealth Imports to acquire remaining 40 per cent stake in Cipla Pharma Lanka.

Cipla (EU) Ltd already has a 60 per cent stake in Cipla Pharma Lanka Pvt Ltd. Post-acquisition, Cipla Pharma Lanka will become a wholly-owned subsidiary, Cipla said in a filing to the BSE.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, November 28 2019. 10:40 IST
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