Pharma giant Cipla hits all-time high, stock surges over 70% in one year

Cipla Share Price: Pharma giant Cipla hit an all-time high of Rs 1,519.00 in morning deals on BSE on Monday (March 11, 2024). 

The stock was trading higher by 2.11 per cent, or Rs 31.30, at Rs 1513.25 at 10:43 am on Monday.

The stock that closed at Rs 1,481.95 on Thursday (since Friday was a holiday) started its trading session on Monday at Rs 1,490.35.

It rose to its all-time high of Rs 1,519.00, a 2.50 per cent jump from its previous close.

Cipla also hit a 52-week high of Rs 1495.00 on March 4.

Cipla Share Performance

The stock of the large-cap pharma firm has soared by five per cent in the last one month.

While its rise in the six months was 20.91 per cent, it has skyrocketed by 72.24 per cent in the past one year.

The pharma stock has outperformed the benchmark Nifty 50 in the last one year.

The Nifty50 has jumped by 3.74 per cent in one month, 12.14 per cent in six months, and 30.72 per cent in one year.

JM Financial on Cipla

JM Financial in its January 2024 coverage said that IPCA, Cipla, SUNP, TRP and DRRD had outperformed the IPM, growing by 14.3 per cent/9.6 per cent/8.9 per cent/8.6 per cent/8.3 per cent Year-on-Year, respectively. 

The report said that CIPLA reported positive volumes for January 2024, thereby sustaining the monthly trend.

Cipla’s top 10 brands reported 13 per cent YoY growth–Foracort - the largest brand in January 24 recorded 20 per cent growth for the month.