Cipla shares surged to
their one-year high on the bourses on Wednesday, after the drug major posted 58.19 per cent jump in net profit for the quarter ended June 30.
Cipla reported a 58.19 per cent jump in net profit at Rs 400.76 crore for the quarter ended June 30,
on the back of robust sales in both domestic and international markets.
The company had posted a net profit of Rs 253.34 for the same period of previous financial year.
The company's scrip opened higher and gained 7.39 per cent to touch a 52-week high of Rs 363.60 on the Bombay Stock Exchange (BSE).
At 1.42 pm, Cipla was trading 4.25 per cent higher on BSE at Rs 352.95. At the National Stock Exchange (NSE), the stock was trading 4.24 per cent higher at Rs 352.95 at the same time.
On the volume front, 7.20 lakh shares of Cipla changed hands on BSE, while over 52 lakh shares were traded on NSE by afternoon trade.
With inputs from PTIDisclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
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