Cipla nears its 52-week high post Q1 results

The stock has rallied 4.6% to Rs 662 on the BSE in early morning trade, trading close to its 52-week high of Rs 663 touched on November 11, 2017.

Shares of Cipla have rallied 4.6% to Rs 662 per share on the BSE in early morning trade after the pharmaceutical company reported a 10% increase in its consolidated net profit of Rs 4.51 billion for the first quarter ended June 30 (Q1FY19), driven by healthy growth in domestic market. It had profit of Rs 4.09 billion in the same quarter year ago.

The stock was trading close to its 52-week high of Rs 663 touched on November 11, 2017 on the BSE in intra-day trade. It hit an all-time high of Rs 752 on March 10, 2015.