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Money Aug 1, 2012

Cipla surges 7%, hits 52-week high on strong Q1 results

Shares of drug major Cipla surged over 7 percent to touch one-year high as it posted 58.19 percent jump in net profit for the quarter ended 30 June, 2012.

The company's scrip opened higher and gained 7.39 percent to touch a 52-week high of Rs 363.60 on the BSE.Reuters

The company's scrip opened higher and gained 7.39 percent to touch a 52-week high of Rs 363.60 on the BSE.
Similarly, at the NSE, the stock soared 7.38 percent to one-year high of Rs 363.60. On the volume front, 5.35 lakh shares of the company changed hands on the BSE, while over 35 lakh shares were traded on the NSE in the morning trade.

Cipla posted 58.19 percent jump in net profit at Rs 400.76 crore for the quarter ended June 30, 2012, on the
back of robust sales in both domestic and international markets. The company had posted a net profit of Rs 253.34 for the same period of previous fiscal.

PTI


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