Sell Cipla, target Rs 455: Jayesh Bhanushali

| August 22 2019 11 : 41 IST | The Economic Times

IIFL's Jayesh Bhanushali has a sell call on Cipla Ltd. with a target price of Rs 455.0 . The current market price of Cipla Ltd. is Rs 468.05. Time period given by the analyst is Intra Day when Cipla Ltd. price can reach the defined target. IIFL recommended to keep stoploss at Rs 481. Cipla Ltd., incorporated in 1935, has a market cap of Rs 37719.59 crore.

Cipla Ltd. key Products/Revenue Segments include Pharmaceuticals which contributed Rs 11968.44 Crore to Sales Value (96.72 % of Total Sales), Other Operating Revenue which contributed Rs 167.72 Crore to Sales Value (1.35 % of Total Sales), Export Incentives which contributed Rs 155.27 Crore to Sales Value (1.25 % of Total Sales), Royalty Income which contributed Rs 50.68 Crore to Sales Value (0.40 % of Total Sales) and Scrap which contributed Rs 31.90 Crore to Sales Value (0.25 % of Total Sales) for the year ending 31-Mar-2019.

For the quarter ended 30-06-2019, the company has reported a Consolidated sales of Rs 3894.46 Crore, down -8.82 % from last quarter Sales of Rs 4271.00 Crore and up 1.26 % from last year same quarter Sales of Rs 3845.84 Crore Company has reported net profit after tax of Rs 470.65 Crore in latest quarter. The company’s top management includes Dr.Peter Mugyenyi, Dr.Y K Hamied, Mr.Adil Zainulbhai, Mr.Ashok Sinha, Mr.M K Hamied, Mr.Peter Lankau, Mr.S Radhakrishnan, Mr.Umang Vohra, Ms.Naina Lal Kidwai, Ms.Punita Lal, Ms.Samina Vaziralli. Company has Walker Chandiok & Co. LLP as its auditors. As on 30-06-2019, the company has a total of 805,828,425 shares outstanding.

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