ICICI Direct has given a buy rating to Cipla with a target price of Rs 802. The share price moved up by 0.48 per cent from its previous close of Rs 781.25. The stock’s last traded price is Rs 785.

Cipla Ltd., incorporated in the year 1935, is a Large Cap company (having a market cap of Rs 63297.49 Crore) operating in Pharmaceuticals sector.

For the quarter ended 30-06-2020, the company reported a Consolidated sales of Rs 4276.89 Crore, down 0.57 % from last quarter Sales of Rs 4301.60 Crore and up 9.82 % from last year same quarter Sales of Rs 3894.46 Crore Company reported net profit after tax of Rs 571.43 Crore in latest quarter.


Investment Rationale
Price resumes uptrend after basing formation at 50 day EMA

Promoter/FII Holdings
Promoters held 36.68 per cent stake in the company as of March 31, 2020, while FIIs held 20.31 per cent, DIIs 20.86 per cent and public and others 22.16 per cent.

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