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Cipla strengthens on getting nod for divestment of its consumer healthcare business to WOS

13 Jul 2015 Evaluate

Cipla is currently trading at Rs. 657.00, up by 8.50 points or 1.31% from its previous closing of Rs. 648.50 on the BSE.

The scrip opened at Rs. 652.00 and has touched a high and low of Rs. 661.35 and Rs. 652.00 respectively. So far 52118 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 752.45 on 10-Mar-2015 and a 52 week low of Rs. 427.55 on 15-Jul-2014.

Last one week high and low of the scrip stood at Rs. 661.35 and Rs. 625.10 respectively. The current market cap of the company is Rs. 52844.30 crore.

The promoters holding in the company stood at 36.80 % while Institutions and Non-Institutions held 35.18 % and 25.83 % respectively.

Cipla has received an approval for divestment of its consumer healthcare business to a wholly owned subsidiary (WOS) (proposed to be incorporated) on a going-concern basis by way of a slump sale for a consideration of Rs 10.5 crore. The board of directors at their meeting held on July 09, 2015 has approved for the same.

The aforesaid divestment would enable the company to participate in the attractive & growing over-the-counter (OTC) market. This business requires a specialized FMCG kind of focus. A separate subsidiary would enable the company to attract right talent and provide the focus and attention required for this business. The sale agreement is yet to be finalized. The transaction is expected to be completed in the third quarter of FY 2015-16, subject to receipt of necessary approvals.

The amount and percentage of the turnover contributed by the OTC division of the company, during the last financial year 2014-15 was Rs 34.88 crore or approximately 0.3% of the Total Income (Audited Consolidated) of the company for FY 2014-15. The net worth of OTC division of the company as on March 31, 2015 was Rs. 6.45 crore contributing 0.06% of the net worth of the company.

 

Cipla Share Price

1238.30 7.55 (0.61%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Sun Pharma Inds. 1675.20
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Cipla 1238.30
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