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Strong June qtr, higher margin guidance cheer Cipla’s investors
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₹6,329 crore, driven by India and US markets owing to better market conditions and product mix. To be sure, significant near-term upsides may be capped after the stock gained 23% in the past year.
Update on the regulatory progress of the manufacturing plants in Goa and Indore is a key monitorable. “Any further FDA escalation to Indore unit and erosion in key products in US will be key risk to our call," wrote Param Desai, Prabhudas Lilladher analyst, in a report.
The brokerage has a ‘Buy’ rating on Cipla with a target price of ₹1,220 apiece. On Thursday, Cipla shares closed at ₹1,171.45.Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!
. Read more on livemint.comAbout this in other media
ABB India Results: Profit doubles to ₹296 crore for June quarter livemint.com /1 year ago
India June factory output growth slows to 3.7% from 5.2% in May livemint.com /1 year ago
Index of industrial production drops to 3.7% in June from 5.2% in May livemint.com /1 year ago
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