Buy Cipla, target price Rs 1025: ICICI Securities

ICICI Securities has buy call on Cipla with a target price of Rs 1025. The current market price of Cipla Ltd. is Rs 950.
Cipla Ltd., incorporated in the year 1935, is a Large Cap company (having a market cap of Rs 76314.86 Crore) operating in Pharmaceuticals sector.

Financials
For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 5255.63 Crore, up 3.22 % from last quarter Total Income of Rs 5091.76 Crore and up 18.29 % from last year same quarter Total Income of Rs 4443.13 Crore. Company reported net profit after tax of Rs 752.51 Crore in latest quarter.


Investment Rationale
Stock in strong up trend sustaining above the rising trendline breakout area joining previous highs since August 2020 and MACD in buy mode

Promoter/FII Holdings
Promoters held 36.7 per cent stake in the company as of Sept 30, 2020, while FIIs held 20.4 per cent, DIIs 19.4 per cent and public and other 23.5 per cent.