Cipla share price NSE, Cipla share price target: Cipla shares zoomed on Thursday, a day after the pharmaceuticals firm reported a 41.34 per cent rise in its consolidated profit after tax at Rs 998.07 crore in the first quarter ended June 30, 2023, driven by good growth across markets, especially India and the US. Cipla shares opened at Rs 1,115 and gained as much as over 14 per cent to touch the day's high of Rs 1,219.4 from the previous close of Rs 1,068.5 on the NSE. The stock settled at Rs 1,173 apiece, up by Rs 104.5 or 9.78 per cent on the NSE. The company posted a consolidated profit after tax of Rs 706.14 crore in the same quarter last fiscal, Cipla Ltd. said in a regulatory filing.

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Cipla's consolidated total revenue from operations in the quarter under review stood at Rs 6,328.89 crore as against Rs 5,375.19 crore in the year-ago period. Total expenses were higher at Rs 5,090.58 crore as compared to Rs 4,504.06 crore in the corresponding period last fiscal, the company said. The company's India business sales were up 11.6 per cent at Rs 2,772 crore in the first quarter as against Rs 2,483 crore in the year-ago period. North America business posted a 52 per cent jump in sales at Rs 1,822 crore as compared to Rs 1,199 crore in the year-ago period. Read more 

Cipla share price target

  • JP Morgan has maintained an overweight rating and has raised the target price to Rs 1,210 from Rs 1,050
  • Jefferies has double upgraded to a buy call from a hold stance and raised the target price to Rs 1,210 from Rs 900 
  • Citi has maintained a buy call and has raised the target price to Rs 1,240 from Rs 1,110 
  • Goldman Sachs has maintained a sell call but has raised the target price to Rs 975 from Rs 875 
  • Macquarie has maintained an outperform rating with a  target price of Rs 1,050 

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