Cipla slips into red ahead of the results

The scrip opened at Rs. 674.15 and has touched a high and low of Rs. 675 and Rs. 664.1 respectively.

Shares of Cipla were trading lower at Rs. 688.50 on BSE. The pharma company is scheduled to announce its September quarter earnings today.

Cipla is likely to report 9% qoq decline as most of the gNexium boost has been captured in Q1 FY16 and company had indicated that Q1 supplies have been lower (leading to lower PAT in Q2) which along with higher R&D spends would impact margin by ~400bps qoq to 23%; reported PAT likely to decline ~25% qoq, IIFL says.

The scrip opened at Rs. 674.15 and has touched a high and low of Rs. 675 and Rs. 664.1 respectively. So far 1,014,239 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 53880.3 crore.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 752.45 on 10-Mar-2015 and a 52 week low of Rs. 572 on 15-Jun-2015. Last one week high and low of the scrip stood at Rs. 704.75 and Rs. 668.55 respectively.

The promoters holding in the company stood at 36.79 % while Institutions and Non-Institutions held 34.24 % and 26.63 % respectively.

The stock is currently trading below its 200 DMA