The shares of one of the leading pharmaceutical firms gained marginally to ₹1,414.30 per share, following investments from DII and FII after the promoter group sold a 2.53% stake for ₹2,600 crore.
At 1:55 p.m., Cipla Ltd. shares were trading at ₹1,408.10 per share on the National Stock Exchange, up 0.15 percent from the previous close price. The company has a market valuation of ₹1,13,689 crore.
On May 15th, the Company reported that Promoter Group members, including Shirin Hamied, Rumana Hamied, Samina Hamied, and Okasa Pharma Private Limited, have collectively divested 2.53%, or 2.04 crore, of shares valued at ₹2,600 crore.
Following the promoter’s reduction in stake, significant purchases of Cipla shares were made by various institutional investors. Notably, ICICI Prudential Mutual Fund acquired over 55 lakh shares valued at approximately ₹744 crore, while Aditya Birla Mutual Fund purchased nearly 23 lakh shares worth ₹309 crore, followed by Axis Mutual Fund, DSP Mutual Fund, and HDFC Mutual Fund.
Additionally, foreign institutional investors, such as funds managed by Ninety One, Saudi Central Bank, Eastspring Investments India Consumer, Société Generale, Morgan Stanley Asia, Investec Global Strategy Fund, along with several global pension and superannuation funds, also bought shares at an average price of ₹1,345.
Following the transaction, the entire promoter group, including those Acting in concert, still retains a 31.67% stake in Cipla Limited. As of the March quarter, the promoter holding in the company was reported at 33.47%.
Cipla’s stock surged 14% over the past six months and an impressive 53% over the last year.
Cipla Ltd is one of the leading pharmaceutical companies in India. The Company is in the business of manufacturing, developing, and marketing wide range of branded and generic formulations and Active Pharmaceutical Ingredients (APIs).
Cipla’s product portfolio spans complex generics as well as drugs in the respiratory, anti-retroviral, urology, cardiology, anti-infective, CNS, and various other key therapeutic segments.
The company generates a significant portion of its revenue from various regions: 43% from India, 30% from North America, and 12% from Emerging Markets & Europe.
In the fourth quarter of FY24, it reported a revenue of ₹6,163 crores, marking a 10% increase compared to the previous year. Profits after tax (PAT) rose to ₹939 crores, up by an impressive 79%. Additionally, EBITDA surged to ₹1,316 crores, reflecting a 13% year-on-year increase
Written by Omkar Chitnis
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
