FIIs cut stake in Cipla to 23.32% during Q4 FY14

Foreign Institutional Investors (FIIs) have reduced their stake in Cipla to 23.32% during Q4 FY14 from 23.79% as on December 31, 2013. On the other hand, domestic institutional investors’ (DIIs) shareholding went up to 11.43% at the end of March 2014 quarter from 10.60% as on December 31, 2013. Under DIIs, Insurance companies held maximum stake of 6.73%, followed by mutual funds / UTI (4.43% stake) and financial institutions / banks (0.27% stake). Meanwhile, promoter and promoter group shareholding was unchanged at 36.80% at the end of March 2014 quarter. Cipla is a global pharmaceutical company which uses cutting edge technology and innovation to meet the everyday needs of all patients. For more than 70 years, Cipla has emerged as one of the most respected pharmaceutical names in India as well as across more than 170 countries.