Cipla gains on getting nod to transfer generics business undertaking
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Cipla is currently trading at Rs. 1211.55, up by 7.50 points or 0.62% from its previous closing of Rs. 1204.05 on the BSE.
The scrip opened at Rs. 1204.50 and has touched a high and low of Rs. 1211.95 and Rs. 1201.85 respectively. So far 5373 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. 1219.15 and Rs. 1186.65 respectively. The current market cap of the company is Rs. 97702.52 crore.
The promoters holding in the company stood at 33.47%, while Institutions and Non-Institutions held 49.85% and 16.67% respectively.
Cipla has received approval from board of directors to transfer Generics Business Undertaking as a going concern on a slump sale basis to Cipla Pharma and Life Sciences (CPLS), a wholly owned subsidiary of the Company. Effective date for completion of transfer to CPLS would be end of business hours of December 31, 2023, or such other date mutually agreed between the parties. The consideration to be received from such sale will be Rs 350 crore. The Board of Directors of the company at its meeting held on November 06, 2023 have inter alia, approved the same.
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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