US sales momentum, margin gains to support pharma major Cipla's stock

Led by the US market which rose by 31 per cent, the company posted a 16 per cent growth in revenues

Cipla plans acquisitions to take top spot in South Africa drug market

Premium

Ram Prasad Sahu

3 min read Last Updated : Oct 31 2023 | 11:44 PM IST

Listen to This Article

A strong performance in the July-September quarter of 2023-24 (Q2FY24), an upward revision in the margin guidance and sustained momentum in US sales has helped the stock of pharmaceutical major Cipla gain about 2 per cent over the last two trading sessions.

The brokerages have upgraded the earnings estimates for this financial year (FY24) by 6-9 per cent to factor in the improved margin guidance and sales in the US market.

Led by the US market, which rose by 31 per cent, the company posted a 16 per cent growth in revenues.

The US market has accounted for 28 per

Topics : Cipla pharmaceutical firms US markets stock market trading

What you get on BS Premium?

Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Pick your 5 favourite companies, get a daily email with all news updates on them.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.

VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in