Medium Term Buy Call For Cipla

Medium Term Buy Call For CiplaTechnical Analyst Monal Desai of Prabhudas Lilladher has maintained 'buy' rating on Cipla Ltd stock to achieve an intraday target of Rs 375.

According to analyst, the investors can attain the target in a period of 4-5 months.

Today, the stock of the company opened at Rs 324 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 363 and a low of Rs 220 on BSE.

Current EPS & P/E ratio stood at 12.29 and 26.47 respectively.

Cipla, on May 25, has established a wholly owned arm, named Cipla Singapore (P), in Singapore.

The newly opened division has been set up in order to assist logistics and distribution of its export business.

During the last month, Cipla said it is buying two plants, which were exclusively making formulations as well as bulk drugs/intermediates for the company, for around Rs 82 crore.

The company's board has given its nod to the deal.

Moreover, there were reports that Cipla is making discussions to manufacture and supply drugs to Pfizer as the US-based company eyes to make entry in the generics business space.

If the deal happens, Cipla is likely to manufacture inhalers, drugs for respiratory disorders and anti-infectives for Pfizer.