AgenciesRelated
ICICI Direct has buy call on with a target price of Rs 1090. The current market price of Cipla Ltd. is Rs 971.05 Time period given by analyst is three months when Cipla Ltd. price can reach defined target.
Cipla Ltd., incorporated in the year 1935, is a Large Cap company (having a market cap of Rs 78267.26 Crore) operating in Pharmaceuticals sector.
Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 4666.58 Crore, down -11.21 % from last quarter Total Income of Rs 5255.63 Crore and up 4.41 % from last year same quarter Total Income of Rs 4469.37 Crore. Company reported net profit after tax of Rs 415.51 Crore in latest quarter.
Investment Rationale
Cipla has relatively outperformed most pharma stocks post its quarterly results and declines were used to accumulate further. Significant delivery based buying was observed in the stock in the range of Rs 850-880 in the May series. The brokerage expects these levels to act as major support for the stock in coming week. Cipla has been consolidating below its long term mean+2*sigma levels for almost two years. These levels have acted as an major hurdle for the stock. However, considering ongoing accumulation, the brokerage expects the stock to surpass these levels placed near Rs 1000. It should continue its positive move above these levels in the coming weeks.
Promoter/FII Holdings
Promoters held 36.7 per cent stake in the company as of March 31, 2021, while FIIs held 20.4 per cent, DIIs 19.4 per cent and public and other 23.5 per cent.
(Views and recommendations given in this section are the analysts' own and do not represent those of ETMarkets.com. Please consult your financial adviser before taking any position in the stock/s mentioned.)
Cipla Ltd., incorporated in the year 1935, is a Large Cap company (having a market cap of Rs 78267.26 Crore) operating in Pharmaceuticals sector.
Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 4666.58 Crore, down -11.21 % from last quarter Total Income of Rs 5255.63 Crore and up 4.41 % from last year same quarter Total Income of Rs 4469.37 Crore. Company reported net profit after tax of Rs 415.51 Crore in latest quarter.
Investment Rationale
Cipla has relatively outperformed most pharma stocks post its quarterly results and declines were used to accumulate further. Significant delivery based buying was observed in the stock in the range of Rs 850-880 in the May series. The brokerage expects these levels to act as major support for the stock in coming week. Cipla has been consolidating below its long term mean+2*sigma levels for almost two years. These levels have acted as an major hurdle for the stock. However, considering ongoing accumulation, the brokerage expects the stock to surpass these levels placed near Rs 1000. It should continue its positive move above these levels in the coming weeks.
Promoter/FII Holdings
Promoters held 36.7 per cent stake in the company as of March 31, 2021, while FIIs held 20.4 per cent, DIIs 19.4 per cent and public and other 23.5 per cent.
(Views and recommendations given in this section are the analysts' own and do not represent those of ETMarkets.com. Please consult your financial adviser before taking any position in the stock/s mentioned.)
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