Wednesday 17 July 2013

Cipla gains on concluding acquisition of 100% shares of Medpro

Cipla is currently trading at Rs. 405.00, up by 2.85 points or 0.71% from its previous closing of Rs. 402.15 on the BSE.

The scrip opened at Rs. 402.55 and has touched a high and low of Rs. 405.75 and Rs. 399.30 respectively. So far 31,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 435.00 on 09-Jan-2013 and a 52 week low of Rs. 323.75 on 25-Jul-2012.

Last one week high and low of the scrip stood at Rs. 409.30 and Rs. 391.00 respectively. The current market cap of the company is Rs. 32,518 crore.

The promoters holding in the company stood at 36.80% while Institutions and Non-Institutions held 34.08% and 28.32% respectively.

Earlier, the company had received an approval from the Takeover Regulation Panel for its proposal to takeover Medpro in South Africa. The company had also received approval from shareholders of Cipla Medpro to Cipla $488 million offer to acquire 100 per cent stake in it.

The company focuses on development of new formulations and has a wide range of pharmaceutical products. It offers prescription drugs, bulk drugs, animal products and pesticides. It also offers a wide range of food and beverages, baked foods, oral hygiene products, detergents, room fresheners and personal care products.

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