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Cipla trades with traction on the BSE

24 Jul 2013 Evaluate

Cipla is currently trading at Rs. 412.00, up by 3.50 points or 0.86% from its previous closing of Rs. 408.50 on the BSE.

The scrip opened at Rs. 405.50 and has touched a high and low of Rs. 412.90 and Rs. 405.50 respectively. So far 47189 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 435.00 on 09-Jan-2013 and a 52 week low of Rs. 323.75 on 25-Jul-2012.

Last one week high and low of the scrip stood at Rs. 418.00 and Rs. 399.30 respectively. The current market cap of the company is Rs. 32935.83 crore.

The promoters holding in the company stood at 36.80% while Institutions and Non-Institutions held 33.92% and 28.21% respectively.

Pharmaceutical companies are gearing up to challenge the Centre’s populist move to slash prices of essential medicines through the new drug pricing policy. Cipla and Alembic have approached the Delhi High Court and Gujarat High Court, respectively, challenging the provisions of the new Drug Price Control Order (DPCO), 2013, notified by the government in May.

Cipla has raised concerns over the government’s direction to replace stocks in the market with those carrying reduced MRPs (maximum retail price) within 45 days of the new price notification by the National Pharmaceutical Pricing Authority (NPPA). Alembic, too, has challenged NPPA’s mechanism for computation of one per cent market share while determining the price cap. The company had appealed the existing stocks that have been manufactured and are supplied in the market should be allowed to continue sales, while new lots supplied by companies can follow the new price caps.

Alembic has argued NPPA had violated the provision of the pharmaceutical pricing policy as cleared by the government initially. The new policy prescribes price cap of 348 medicines based on arithmetic average of all medicines with a minimum of one per cent market share. While NPPA has taken into consideration all brands of a formulation made by a company to calculate one per cent, Alembic has contested the mechanism of multiple brands of a particular company should be assessed independently and only the brands with a share of more than one per cent be considered while determining ceiling prices.

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
Dr. Reddys Lab 1235.40
Cipla 1238.30
Zydus Lifesciences 942.55
Lupin 2324.25
View more..

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