Page 7 - Cipla

Amazon Web Services served Rs 549 crore income tax demand notice: Report

AWS: The income tax department has reportedly raised the demand for Rs 190.85 crore tax for 2014-15 and Rs 358.27 crore for 2016-17 by invoking Section 147 of the Income-tax Act

RIL, Mphasis: 45 stocks hit fresh 52-week lows; charts show more pain ahead

The heavy-weight Reliance Industries has broken critical support of Rs 2,300, raising concerns about the future drawdown. In addition, the formation reveals a "Descending Triangle" violation

Stocks to watch: Cipla, Axis Bank, PNC Infratech, RailTel, Glenmark Pharma

Stocks to watch today: From Cipla to Axis Bank, here are top stocks to watch out in Wednesday's trading session

Cipla inks pact with Africa Capitalworks to sell 51% stake in Uganda unit

Drug major Cipla on Tuesday said it has inked a pact with Africa Capitalworks to sell a 51.18 per cent stake in Uganda-based Cipla Quality Chemical Industries Ltd. The company and its wholly-owned subsidiaries, Cipla (EU) Ltd and Mauritius-based Meditab Holdings Ltd, have entered into a share purchase agreement with Africa Capitalworks on March 14, Cipla said in a regulatory filing. Subsequent to the sale, Cipla Quality Chemical Industries (CQCIL) will cease to be a subsidiary of the company, it added. Consideration to be received by Cipla (EU) Ltd and Meditab Holdings Limited shall be in the range of USD 25-30 million, Cipla noted. The proposed sale is expected to be completed by May 31, 2023, it added. Africa Capitalworks is a wholly owned subsidiary of Africa Capitalworks Holdings (ACW), an investment management company incorporated in Mauritius. ACW is engaged in providing permanent equity capital and complementary skills to mid-market companies across Sub-Saharan Africa.

NTPC, PFC: 5 F&O stocks see long OI build-up; Here's how to trade in them

Build-up of long OI in general indicates that traders are expecting the price of the underlying stock or index to gain in the near-term.

TMS Ep381: SC on Adani-Hindenburg, employment data, Cipla stocks, and more

What next in the Adani-Hindenburg saga? What do India's employment numbers imply? What do USFDA observations mean for Cipla? What is the New START Treaty?

Analysts turn cautious on Cipla as US FDA action delays key US launches

Analysts believe that some of the recent observations from the US FDA are critical in nature and could lead to a potential Official Action Indicated (OAI) classification for the Indore plant

Cipla falls 4%, nears 52-week low on concerns of product launch delay in US

In the past seven trading days, the stock has dipped 11% after the United States Food and Drug Administration issued Form 483 with 8 observations for the company's Pithampur manufacturing facilities

Nifty Pharma dips to 7-mth low; bears may gain control if breaks 52-wk low

Barring Sun Pharmaceutical Industries, which is anticipated to rally up to 10 per cent; other stocks indicate weak bias, as per technical charts

Cipla shares fall over 6% after its unit gets 8 observations from USFDA

Shares of Cipla on Monday ended over 6 per cent lower after the company received 'Form 483' with eight observations for its Pithampur-based manufacturing facility. The stock declined 6.02 per cent to settle at Rs 964.05 apiece on the BSE. During the day, it tumbled 6.78 per cent to Rs 956.20. On the NSE, it tanked 6.11 per cent to end at Rs 963 per share. In volume terms, 2.38 lakh shares were traded on the BSE and over 58.29 lakh shares on the NSE during the day. The US Food and Drug Administration (USFDA) conducted a current Good Manufacturing Practices (cGMP) inspection at the manufacturing facility from February 6-17, the Mumbai-based drug firm said in a regulatory filing on Saturday. On conclusion of the inspection, the company has received eight inspectional observations in Form 483, it added. The company will work closely with the USFDA and is committed to address these comprehensively within stipulated time, it said. As per USFDA, Form 483 is issued to a firm's managemen

Cipla dips 7% after Pithampur unit receives 8 USFDA observations

The company said it will work closely with the USFDA and is committed to address these comprehensively within stipulated time.

Stocks to watch: HUL, United Breweries, Motherson, Sun Pharma, Paytm, Cipla

Stocks to watch: Samvardhana Motherson announced it is buying SAS Autosystemtechnik (SAS), which manufactures auto cockpit modules, from French company Faurecia for Rs 4,790 crore

Income tax department conducts survey action against drug major Cipla

The Income Tax Department has carried out a survey action against drug major Cipla, sources said on Tuesday. The department is conducting the surprise action to check the balance sheets and other business documents of the Mumbai headquartered company as part of an alleged tax evasion investigation, they said. As part of a survey, the Income Tax Department only covers the business premises of a company and does not raid the residences and other locations of its promoters or directors. The company had last week reported, in a regulatory filing, a seven per cent increase in its consolidated net profit at Rs 808 crore in the third quarter ending December 2022, aided by robust sales in the US market.

Cipla Q3 net up 10% to Rs 801 cr, posts highest ever quarterly sales in US

Revenue up 6% to Rs 5,810 cr; firm expects US FDA audit at Goa unit

Cipla Q3 net profit rises 7% to Rs 808 cr on account of robust sales

Drug major Cipla on Wednesday reported a 7 per cent increase in its consolidated net profit to Rs 808 crore for the third quarter ended December 2022, aided by robust sales. The Mumbai-based drug maker had reported a net profit of Rs 757 crore for the October-December period of the last fiscal. Its total revenue from operations rose to Rs 5,810 crore for the third quarter compared to Rs 5,479 in the year-ago period, Cipla said in a regulatory filing. For the nine months ended December 31, 2022, the company reported a net profit of Rs 2,311 crore against Rs 2,176 crore in the same period last fiscal. Shares of the company were trading 2.73 per cent down at Rs 1,032.50 apiece on the BSE.

Sensex slumps 774 pts, Nifty ends below 17900; Auto, FMCG stocks outshine

Stock market LIVE: As per rollover data, the Nifty index has, so far, witnessed rollover in-line with the last three months' averages. However, slight declines in roll cost indicates a capped upside

Cipla launches diagnostic device, says it will provide results in minutes

Cippoint offers parameters to test for cardiac markers, diabetes, infectious diseases, fertility

Stocks to Watch: Elin Electronics, Cipla, Eicher Motors, RIL, Banks, Pharma

Stocks to Watch: Elin Electronics to debut today, the stock is likely to list on a quiet note.

Cipla's higher automation spends to continue for 3 more yrs: CTO Malhotra

Cipla expects elevated capital expenditure on automation to continue for three more years, a senior official has said. The city-headquartered company started its investment journey on the automation front two years ago and has already been recognised for its work by multiple bodies, Geena Malhotra, the chief technology officer for the company, told PTI recently. The World Economic Forum (WEF) has recognised one of its four manufacturing units as a 'lighthouse' project for being replicated across the world, Malhotra said, adding that the company will be implementing the same across all of its 42 plants. "On investments, we have done both regular capital expenditure and also additional investments. We have made a good amount of investments in the last two years and will be investing for about 3-4 years more in this journey," Malhotra said. The company, however, did not disclose the financial details of its automation spends. The journey on automation has its roots in a decision Cipl

Rising cost of raw materials a challenge for drug firms: Cipla's Hamied

Companies will have to manage work to match India's National List of Essential Medicines but it will be worth the endeavour, she says