What to watch: Cipla acquisition may power up stock

Cipla has signed an agreement on Thursday to acquire 26 per cent stake on a fully diluted basis in AMP Solar Power Systems Private Limited, which is formed for the purpose of setting up a captive solar power project in Maharashtra. The company will invest ₹12.90 crore for the acquisition, which will be through share purchase, subscription of equity shares and compulsorily convertible debentures. Shareholders of Cipla will closely monitor further developments.