Cipla trades higher on the BSE
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Cipla is currently trading at Rs. 1249.95, up by 11.40 points or 0.92% from its previous closing of Rs. 1238.55 on the BSE.
The scrip opened at Rs. 1251.95 and has touched a high and low of Rs. 1266.20 and Rs. 1244.75 respectively. So far 47007 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1277.55 on 10-Aug-2023 and a 52 week low of Rs. 852.00 on 22-Mar-2023.
Last one week high and low of the scrip stood at Rs. 1268.65 and Rs. 1223.80 respectively. The current market cap of the company is Rs. 100711.96 crore.
The promoters holding in the company stood at 33.47 % while Institutions and Non-Institutions held 49.76 % and 16.77 % respectively.
Cipla’s 100% owned subsidiary -- Cipla South Africa has signed a binding term sheet with Actor Holdings (Pty) to acquire 100% of the issued ordinary shares of Actor Pharma (Pty) (Actor). This development underpins Cipla’s commitment and investment in its over the counter (OTC) business and supports its journey to be a leading healthcare player in South Africa. This is a strategic acquisition for Cipla South Africa to unlock the future growth opportunities and leverage cost synergies in the South African market.
Actor was founded in 2009 and has quickly grown to become the 5th largest, privately owned, OTC player in the South African private market. Actor specializes in OTC and generic medicine, where they have established strong consumer brands, and identified niche prescription markets in categories of Women’s health, Nasal, Cough & Cold and Baby & Child. In addition, Actor has an exciting and innovative pipeline and in its last financial year (FY23) delivered revenue of R234 million, on the back of strong double-digit growth.
The transaction is expected to close in the next three to four months, subject to the negotiation and signing of the definitive transaction agreements (which are expected to be concluded imminently) as well as receiving regulatory approval from South Africa’s Competition Commission.
Cipla is a global pharmaceutical company which uses cutting edge technology and innovation to meet the everyday needs of all patients.
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