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Cipla rises with arm inking definitive agreement to sell 100% stake in Four M Propack

19 Jan 2017 Evaluate

Cipla is currently trading at Rs. 583.25, up by 1.65 points or 0.28% from its previous closing of Rs. 581.60 on the BSE.

The scrip opened at Rs. 581.75 and has touched a high and low of Rs. 587.55 and Rs. 581.15 respectively. So far 6,971 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 617.70 on 23-Sep-2016 and a 52 week low of Rs. 458.25 on 25-May-2016.

Last one week high and low of the scrip stood at Rs. 595.00 and Rs. 578.75 respectively. The current market cap of the company is Rs. 47,070.00 crore.

The promoters holding in the company stood at 36.74%, while Institutions and Non-Institutions held 35.31% and 26.64% respectively.

Cipla’s wholly owned subsidiary - Goldencross Pharma has entered in to a definitive agreement to sell its 100% equity stake in Four M Propack, India (Four M Propack) to Shriji Polymers (India) (Shriji Polymers) for a consideration of Rs 13.5 crore and an additional sum derived on the basis of the value of mutual funds, cash and bank balance, tax refunds, etc. at the time of closing estimated at around Rs 5.7 crore.

The transaction is expected to be completed within 45 days from date of signing of the definitive agreement, subject to completion of certain condition precedent and receipt of applicable approvals.

Shriji Polymers is engaged in the business of manufacturing of HDPE bottles and PP caps for the pharmaceutical industry.


Cipla Share Price

1232.90 4.00 (0.33%)
21-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Sun Pharma Inds. 1665.25
Dr. Reddys Lab 1220.75
Cipla 1232.90
Zydus Lifesciences 928.85
Lupin 2311.75
View more..

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