Buy Cipla, target price Rs 1000: IIFL

IIFL has buy call on Cipla with a target price of Rs 1000. The current market price of Cipla Ltd. is Rs 977.
Time period given by analyst is Intra Day when Cipla Ltd. price can reach defined target.

Cipla Ltd., incorporated in the year 1935, is a Large Cap company (having a market cap of Rs 78816.60 Crore) operating in Pharmaceuticals sector.


Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 4666.58 Crore, down -11.21 % from last quarter Total Income of Rs 5255.63 Crore and up 4.41 % from last year same quarter Total Income of Rs 4469.37 Crore. Company reported net profit after tax of Rs 415.51 Crore in latest quarter.

Investment Rationale
Has given a flag pattern breakout on daily chart along with a long build-up in its futures contract

Promoter/FII Holdings
Promoters held 36.7 per cent stake in the company as of March 31, 2021, while FIIs held 20.4 per cent, DIIs 19.4 per cent and public and other 23.5 per cent.