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Fourth-quarter numbers prop up Cipla

DALAL STREET SPIKES

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Our Markets Bureau Mumbai
Last Updated : Feb 06 2013 | 6:37 PM IST
Pharmaceutical major Cipla soared 4.80 per cent on the Bombay Stock Exchange (BSE) on Wednesday after the company announced better-than-expected fourth quarter results.
 
The stock, in intra-day trades, touched a high of Rs 1,331, before closing at Rs 1,310.10, up 4.8 per cent. Soon after the results the stock hit a high of Rs 1,322 and witnessed an impressive volume of 2.27 lakh shares on the BSE.
 
For the quarter ended March 31, 2004, Cipla recorded a 118 per cent rise in net profit at Rs 101.74 crore compared with Rs 46.73 crore in the corresponding period of the previous year. Total income surged 53 per cent to Rs 610.33 crore from Rs 399.22 crore during the same period.
 
According to a research firm head, the results were below market expectation which resulted in aggressive buying.
 
The counter has been witnessing buying with selected funds replacing Cipla with other pharma stocks such as Ranbaxy Laboratories and Dr Reddy's.

 
 

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First Published: Apr 22 2004 | 12:00 AM IST

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