30-04-2024 03:34 PM | Source: Accord Fintech
Cipla gains as its arm acquires business undertaking from Ivia Beaute

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Cipla is currently trading at Rs. 1411.40, up by 3.85 points or 0.27% from its previous closing of Rs. 1407.55 on the BSE.

The scrip opened at Rs. 1413.55 and has touched a high and low of Rs. 1416.25 and Rs. 1407.35 respectively. So far 8821 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1519.00 on 11-Mar-2024 and a 52 week low of Rs. 897.70 on 15-May-2023.

Last one week high and low of the scrip stood at Rs. 1418.55 and Rs. 1352.45 respectively. The current market cap of the company is Rs. 114064.72 crore.

The promoters holding in the company stood at 33.47%, while Institutions and Non-Institutions held 50.17% and 16.36% respectively.

Cipla Health (CHL), the wholly owned subsidiary of Cipla has completed the purchase of the distribution and marketing business undertaking of cosmetics and personal care business from Ivia Beaute, through a slump sale arrangement, on a going concern basis on April 26, 2024. This strategic move is aligned with Cipla’s focus on enhancing its consumer healthcare and wellness portfolio.

Building on its strong presence through a cluster of brands in Tier 2-6 towns, CHL is strengthening its play in the fast-growing beauty and personal care sector catering to the aspirational consumer of India. The growing adoption of beauty and personal care products in Indian households signals a prominent trend, positioning the market as crucial for CHL’s expansion efforts. With a brand legacy of over 16 years, Astaberry caters to consumers through a wide range of unique products to help them address their skincare needs. These brands complement CHL's offerings in the skin care segment and enriches the portfolio with trusted and effective solutions for consumers.

Cipla is a global pharmaceutical company which uses cutting edge technology and innovation to meet the everyday needs of all patients.