Buy Cipla, target price Rs 1018: ICICI Direct

ICICI Direct has buy call on Cipla with a target price of Rs 1018. The current market price of Cipla is Rs 976.2 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 78749.08 Crore) operating in Pharmaceuticals sector.

Cipla Ltd. key Products/Revenue Segments include Pharmaceuticals, Other Operating Revenue, Export Incentives, Royalty Income and Scrap for the year ending 31-Mar-2021.



Financials
For the quarter ended 31-03-2022, the company reported a Consolidated Total Income of Rs 5324.35 Crore, down -4.41 % from last quarter Total Income of Rs 5570.15 Crore and up 14.10 % from last year same quarter Total Income of Rs 4666.58 Crore. Company reported net profit after tax of Rs 376.72 Crore in latest quarter.

Investment Rationale
Buying demand R 52-week EMA and the rising demand line, thus provides favourable risk-reward.

Promoter/FII Holdings
Promoters held 33.63 per cent stake in the company as of 31-Mar-2022, while FIIs owned 30.67 per cent, DIIs 17.97 per cent.