Cipla share price up nearly 2% despite weak markets: Sharekhan maintains Buy, price target of Rs 1100
Cipla share price: Sharekhan says that Cipla Limited reported strong numbers for Q4FY2021 yoy, though it missed estimates. Results reflect a one time adjustments in gross margins to the tune of 200 bps on account of inventory adjustment for gAlbuterol and charge on material cost inventories. Revenue, at Rs 4606.5 cr, grew by 5% yoy, driven by a 17% rise in US revenues; sales from emerging markets and India grew by 4% yoy each
Sharekhan highlights that Cipla’s domestic business is poised to grow strongly going ahead. Cipla’s One-India strategy has played out well and would drive growth momentum: Reuters