Cipla clarifies on reports of promoters looking to sell part stake

Cipla has clarified that the company is not aware of any event that requires disclosure under Listing Regulations.

"The Company will make appropriate disclosure in compliance with the Listing Regulations as and when any such requirement arises," the company said in a filing.

The clarification came regarding reports that Cipla promoters are looking to sell a part stake in the promoter shareholding to private equity investors. Cipla was up 9.62 per cent in trade on Thursday at Rs 1171 on BSE.

Param Desai - Research Analyst, Prabhudas Lilladher said Cipla's Q1FY24 EBITDA was 13 per cent above our estimates, aided by higher GMs (64.3 per cent) and US sales of US$222mn.

"We continue to remain positive on growth across key segments including India and US given 1) strong traction in respiratory and other portfolio, 2) potential growth of +10 per cent in domestic formulations and 3) sustainability of current US revs, backed by prospective key launches over FY25," he said.