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    Buy Cipla, target price Rs 1230: Axis Securities

    Synopsis

    Cipla key Products/Revenue Segments include Pharmaceuticals, Royalty Income, Other Operating Revenue, Export Incentives and Scrap for the year ending 31-Mar-2022.

    BuyGetty Images
    Promoters held 33.61 per cent stake in the company as of 30-Sep-2022, while FIIs owned 31.68 per cent, DIIs 21.38 per cent.
    Axis Securities has buy call on Cipla with a target price of Rs 1230. The current market price of Cipla is Rs 1110.45 Time period given by analyst is 3-4 weeks when Cipla price can reach defined target. Axis Securities recommended to keep stop loss at Rs 1070.

    Cipla, incorporated in the year 1935, is a Large Cap company (having a market cap of Rs 90315.58 Crore) operating in Pharmaceuticals sector.

    Cipla key Products/Revenue Segments include Pharmaceuticals, Royalty Income, Other Operating Revenue, Export Incentives and Scrap for the year ending 31-Mar-2022.

    Financials
    For the quarter ended 30-09-2022, the company has reported a Consolidated Total Income of Rs 5951.49 Crore, up 8.63 % from last quarter Total Income of Rs 5478.62 Crore and up 6.65 % from last year same quarter Total Income of Rs 5580.47 Crore. Company has reported net profit after tax of Rs 797.76 Crore in latest quarter.

    The company’s top management includes Dr.Y K Hamied, Ms.Punita Lal, Mr.Adil Zainulbhai, Dr.Peter Mugyenyi, Mr.Robert Stewart, Mr.P R Ramesh, Mr.Ashok Sinha, Mr.S Radhakrishnan, Mr.Umang Vohra, Ms.Samina Hamied, Mr.M K Hamied, Dr.Mandar Vaidya. Company has Walker Chandiok & Co. LLP as its auditors. As on 30-09-2022, the company has a total of 81 Crore shares outstanding.

    Investment Rationale
    The stock
    on the weekly chart has decisively broken out above the “Multiple resistance zone” placed between 1080-1070 level on 30th Sep, 2022.Stock had given a throwback till breakout area and forms a bullish candle at a breakout zone indicating reversal after a profit booking.

    Promoter/FII Holdings
    Promoters held 33.61 per cent stake in the company as of 30-Sep-2022, while FIIs owned 31.68 per cent, DIIs 21.38 per cent.



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    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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