Cipla Ltd News

GST authority imposes Rs 1 cr fine on Cipla for inadmissible credit claim

Pharma major Cipla Ltd on Friday said a fine of over Rs 1 crore has been imposed on the company by GST authority for alleged inadmissible credit claim. The company has received an order dated December 18, 2024 passed by the GST authority, imposing a penalty of Rs 1,11,94,324 under applicable provisions of the Central Goods and Services Tax Act, 2017, Cipla said in a regulatory filing. "The order has been passed by GST Authority on the contention that the company has availed inadmissible TRAN-1 credit. The GST Authority has ordered for recovery of the same along with applicable interest and penalty," it added. Cipa said based on assessment of facts and prevailing law, it is "of the view that the penalty levied is arbitrary and unjustified". "The company will file necessary appeals with the appellate authority in this regard. There is no material impact on the company's financials or operations due to the said order," it added.

Nifty Pharma index rallies 2% in weak market;Ipca, Dr Reddy's gain up to 6%

At 02:37 pm; Nifty Pharma, the sole gainer among sectoral indices, was up 1.8 per cent, as compared to 1 per cent decline in the Nifty 50.

Cipla shares gain; Kotak upgrades stock to 'Buy' from 'Add'; check target

Cipla's extensive portfolio includes over 1,500 products spanning multiple therapeutic areas, such as respiratory, oncology, cardiology, and more.

Cipla promoters may sell 1.72% stake worth Rs 2,000 crore via block deal

The floor price for the Cipla share sale has been set at Rs 1,442 per share, reflecting a 6 per cent discount to the current market price

Nifty Pharma jumps over 2%: Analysts decode the drivers behind the rally

Individually, Cipla soared up to 3.68 per cent to hit an intraday high of Rs 1,547.70 per share, while Sun Pharma soared up to 3.30 per cent to hit an intraday high of Rs 1,791.60 per share

Drug maker Cipla gets 8 observations from USFDA for Bengaluru facility

Drug maker Cipla on Wednesday said the US health regulator has issued eight observations after inspecting its Bengaluru-based plant. The US Food and Drugs Administration (USFDA) conducted an inspection at the company's manufacturing facility in Virgonagar, Bengaluru from November 7- 13, the Mumbai-based based drug maker said in a filing to BSE. On conclusion of the inspection, the company received eight observations in Form 483, it added. The company said it will work closely with the USFDA and remain committed to addressing these observations comprehensively within stipulated time.

Here's why Cipla share price zoomed 10% on October 31; check details

The uptick in Cipla share price came after the United States Food and Drug Administration (USFDA) on Wednesday classified Goa facility as Voluntary Action Indicated (VAI)

Cipla faces challenges of slow growth, drug launch; analysts slash target

Shares of pharmaceutical giant Cipla dipped 5 per cent at Rs 1,403 per share on the NSE in Wednesday's intraday deals

Cipla Q2 results: Net profit rises 15% to Rs 1,303 crore, revenue up 5.6%

Cipla eyes growth in the Indian and US markets with upcoming launches

Cipla Q2 results: Net profit up 17%, income from operations at Rs 7,051 cr

Drug major Cipla on Tuesday reported a 17 per cent increase in consolidated net profit to Rs 1,303 crore for the second quarter ended September 2024, driven by robust sales across markets. The company had reported a net profit of Rs 1,115 crore in the July-September quarter of the last fiscal. Its total income from operations rose to Rs 7,051 crore in the second quarter compared to Rs 6,490 crore in the year-ago period, Cipla said in a regulatory filing. "In Q2 FY25, we recorded a revenue growth of 9 per cent over the last year with a highest-ever EBITDA margin of 26.7 per cent driven by mix and other operational efficiencies," Cipla MD and Global CEO Umang Vohra said. The company's 'One-India' business was impacted during the quarter due to a changed seasonal pattern. However key chronic therapies in the branded prescription business continued to grow faster than the market, he added. The company's consumer health business grew at a strong 21 per cent year-on-year, Vohra said. "

Cipla drops over 3% ahead of Q2FY25 results; know what analysts expect

Shares of Cipla dropped 3.55 per cent at Rs 1,450 per share on the BSE in Tuesday's intraday trade

Q2 results today: Maruti, Cipla and Adani among 139 firms to post earnings

Q2FY25 company results: Adani Ports, Adani Enterprises, Canara Bank, Muthoot Capital, and SBI Cards and Payment Services will be releasing their second-quarter earnings report on October 29

Cipla Q2 Preview: Analysts expect lukewarm growth in sales, profit

Analysts expect Cipla to register a low single digit rise in the topline and bottomline, with margins being impacted by modest sales in the US and domestic formulations

Cipla, Alkem eye Rs 4,000 crore stake in India's largest stent manufacturer

India's largest stent manufacturer, Sahajanand Medical Technologies is also reportedly exploring a public listing on the domestic market

Nifty, Bank Nifty consolidate amid lower volumes; 14 stocks in F&O ban

Derivatives market update Oct 16: Among individual stocks, Deepak Nitrite, PVRInox and HPCL witness fresh long build-up; Cipla and Reliance futures see selling pressure.

This pharma stock has zoomed 57% thus far in 2024; Citi sees more upside

Divi's Labs share: In the last four days, Divi's Lab share price has surged 13 per cent after global brokerage firm Citi initiated coverage on Divi's Laboratories with a 'Buy' rating

Hero Moto, Cipla, NTPC: Stock picks by Chandan Taparia for today, Sept 18

Stocks to buy today: The stock of Hero MotoCorp has given a range breakout on daily scale with noticeable volumes

MK Hamied steps down as Cipla's Vice Chairman on account of age, health

Drug major Cipla on Tuesday said MK Hamied has resigned as Vice Chairman with effect from October 29 due to age and health. "It is with a heavy heart that I write to formally announce my resignation from the position of Vice Chairman and Non-Executive Director of the company," he said in a letter to the board of directors. The company said the board has also approved the appointment of Kamil Hamied as Non-Executive Director, with effect November 1, 2024. "I am pleased to see that Kamil Hamied will be joining the Board as a Non-Executive Director to maintain continuity while representing the promoter family," MK Hamied said in the letter.

Cipla to commence supplies to US from China plant later this year

Drug major Cipla expects to commence supplies to the US market from its China facility in the second half of the current fiscal after getting approval from the American health regulator, according to its MD and global CEO Umag Vohra. Addressing shareholders in the company's Annual Report for 2023-24, he noted that the company is working with the USFDA to resolve issues with its various domestic plants. "Although we saw challenging phases with USFDA audits, I am glad to report that our China facility cleared the USFDA audit and is expected to supply to the US by the second half of FY 2024- 25," Vohra said. Sharing updates about other plants, he noted that the facilities of Patalganga and Kurkumbh in India were also cleared with a VAI (voluntary action indicated). "Our Goa site was issued observations and our Indore plant is currently being remediated. Finding resolution for these regulatory issues continues to be our top priority," Vohra said. The company has worked extensively to

Cipla Q1 results: Net profit up 18% at Rs 1,177.64 cr, revenue rises 5.8%

Pharma major eyes new therapy areas to fuel future growth