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Published on 6/11/2018 11:25:40 AM | Source: Dion Global Solutions Ltd

Cipla declines over 5% on weak outlook for H2

Posted in Stock On The Move| #Cipla Ltd #Pharma Sector #Stock On The Move

Shares of Cipla fell over 5 per cent on the Bombay Stock Exchange as investor weighed weak outlook for the second half of the current fiscal (H2FY19), citing rise in cost and business impact from countries hit by sanctions. Weighed down by the development, shares of the company declined as much as 5.30 per cent and touched an intra-day low of Rs 534.00 apiece on the Bombay Stock Exchange.

In a similar trend, stocks of the firm were trading at Rs 538.95 apiece, down 4.28 per cent, on the National Stock Exchange. Meanwhile, the broader benchmark BSE Sensex was trading at 35,048.50, up 97.58 points, or 0.28 per cent, from the previous close on the BSE at 11:00 hours.