Sell Cipla With Stop Loss Of Rs 329
Technical analyst Anil Singhvi maintained 'sell' rating on Cipla Ltd stock with an intra-day target of Rs 310.
According to analyst, the investors can sell the stock with a stop loss of Rs 329.
Mr. Singhvi added that it's better to sell the stock in today's session as there are full chances of decline.
Today, the stock of the company opened at Rs 316.90 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 11.63 and 27.05 respectively.
Pharmaceutical major Cipla sees itself in a hard situation.
A huge and freshly commissioned pharma facility is all set to fire up sales, however regulatory nods are holding it up.
Its subsisting businesses are experiencing a forceful patch. These factors have weighed down quarterly numbers.
Cipla has expended around Rs 800-900 crore on establishing a special export zone plant at Indore. But it requires sanctions from abroad regulatory dims to market in their nations.
Cipla's total income-constituted of drug sales and other operating profits surged just 8% in October-December period as against the same period of last year.
Sales of drugs increased 12% to Rs 1,501 crore, with domestic sales surging just 11%.