Buy Cipla With Stop Loss Of Rs 341

Buy Cipla With Stop Loss Of Rs 341Stock market analyst Jatinder Sharma has maintained 'buy' rating on Cipla Limited stock to achieve a target of Rs 360.

The analyst said that the stock can be purchased with a stop loss of Rs 341.

The analyst added that the investors need to hold the stock for 1-2 trading sessions to attain the said target.

The stock of the company, on January 10, closed at Rs 347.80 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 380.80 and a low of Rs 301.10 on BSE.

Current EPS & P/E ratio stood at 12.33 and 28.09 respectively.

Drug manufacturer Cipla has bagged two fresh notices from the administration asking for around Rs 73 crore for alleged overcharging on two medications.

The said notices, from the National Pharmaceutical Pricing Authority (NPPA), asked for Rs 47.70 crore for the medication Salbutamol and Rs 25.46 crore for Ciprofloxacin.

These demands are in contradiction of the SC orders, and Cipla has got legal advice that the amounts asked by the administration are not reasonable and sustainable.

In the fiscal 2010, Cipla launch a range of novel drugs and formulations, which comprised Advent Forte (amoxycillin and clavulanic acid syrup), a combination antibiotic for infections; Antiflu (oseltamivir capsules and syrup), an oral medicine for avian influenza; Bosentas (bosentan tablets), a cure for pulmonary arterial hypertension; Cinmove (cinitapride tablets), an anti-motility medicine for gastrointestinal problems and many more.

In May last year, the company established a wholly owned arm, Cipla Singapore Pte. Ltd.

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