The stock of this pharma company saw a sharp rise yesterday after Cipla’s spectacular rise in April-June quarterly results. Although share prices are at a low level today.
Cipla Share Price: The shares of pharmaceutical company Cipla are being seen today, but yesterday this stock has given great profits to the investors. Cipla’s stock closed yesterday with a gain of over 11 per cent and investors felt that the stock would pick up sharply even today. That is why even today, at the beginning of the market, the stock was in the green mark of growth, but as trading progressed, the profit booking continued to dominate Cipla’s stock.
Today Cipla is showing a decline
Today, due to dominance of profit booking , Cipla is witnessing a big decline and the stock is trading at Rs 775.35, down by Rs 20 or 2.55 per cent on the NSE. Yesterday’s rally is missing from Cipla’s stock today and the trade proved to be good for the investors who booked profit in this morning.
The stock had gained 11 percent on Monday.
Cipla’s stock saw a big gain of 11 percent on Monday. On Monday, the Bombay Stock Exchange, the company’s stock rose 11.78 per cent to Rs 814.45. This was the highest level of 52 weeks i.e. one year of this stock. On the NSE too, Cipla’s stock was trading at an upper level of Rs 814.50 during trading yesterday.
Why this rise in shares
Cipla has recently announced its quarterly results and the company has recorded a 26.58% increase in net profit during the April-June quarter. Due to this, a good sentiment was created for the stock and a huge jump was seen in the company’s shares.
Figures in the company’s quarterly results The
company posted a net profit of Rs 566.04 crore with a 26.58 per cent increase in consolidated net profit in the April-June quarter. Cipla’s net profit was Rs 447.15 crore in the same period last year. In this way, in this corona crisis where the profit of all other companies is falling, the stock has got good growth due to good profit of a company like Cipla.