Cipla Ltd.

Cipla is currently trading at Rs. 674.00, up by 5.90 points or 0.88% from its previous closing of Rs. 668.10 on the BSE.

The scrip opened at Rs. 669.15 and has touched a high and low of Rs. 678.90 and Rs. 668.00 respectively. So far 76,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 711.45 on 29-Jan-2015 and a 52 week low of Rs. 366.70 on 24-Feb-2014.

Last one week high and low of the scrip stood at Rs. 701.60 and Rs. 624.00 respectively. The current market cap of the company is Rs. 54,059.00 crore.

The promoters holding in the company stood at 36.80% while Institutions and Non-Institutions held 35.31% and 26.16% respectively.

Cipla has entered into a binding term sheet with its existing partner, Biopharm SPA, for establishing a joint venture (JV) company in Algeria. The JV Company will manufacture and market respiratory products facilitating Cipla’s front-end presence in Algeria.

As per the term sheet, the company’s wholly owned subsidiary, Cipla (EU), will hold a 40% stake in the JV Company while the remainder will be held by a Biopharm-led Algerian consortium. The JV Company is expected to make an investment of up to $15 million in the construction of a manufacturing facility. Cipla (EU) initial investment in cash in the JV Company is expected to be $6 million.

Cipla has emerged as one of the most respected pharmaceutical names in India as well as across more than 170 countries. Its portfolio includes 2000 products in 65 therapeutic categories with one quality standard globally.