Cipla is currently trading at Rs. 589.50, up by 1.95 points or 0.33% from its previous closing of Rs. 587.55 on the BSE.
The scrip opened at Rs. 590.50 and has touched a high and low of Rs. 594.70 and Rs. 589.15 respectively. So far 31,000 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 621.90 on 06-Feb-2017 and a 52 week low of Rs. 458.25 on 25-May-2016.
Last one week high and low of the scrip stood at Rs. 596.00 and Rs. 581.25 respectively. The current market cap of the company is Rs. 47,423.00 crore.
The promoters holding in the company stood at 37.49%, while Institutions and Non-Institutions held 35.64% and 26.87% respectively.
Cipla has entered into agreements, through its wholly owned subsidiary Inyanga Trading 386 Proprietary (Inyanga), with the group companies of Ascendis Health, South Africa for divesting its animal health business in South Africa and Sub-Saharan Africa.
Under the agreements, Cipla will divest its 100% stake in Cipla Agrimed Proprietary (Cipla Agrimed), South Africa and Cipla Vet Proprietary (Cipla Vet), South Africa. The total consideration of transaction would be ZAR 375 million with potential revision linked to FY2017 performance along with customary adjustment (within the price band of R250m and R500m) in relation working capital and net debt/cash adjustments. The deal is subject to customary closing conditions including approval from competition commission of South Africa and is expected to close in the next 3 months.
Cipla Agrimed operates in the farm animals segment, with sales mainly attributable to agricultural co-operatives and bulk farm purchasing organizations. Cipla Agrimed has a leading position in antimicrobials and endectocides in South Africa.
Cipla Vet operates in the companion animal segment with sales primarily to wholesalers. Cipla Vet has a strong presence in the South African market, with leading positions in Proton Pump Inhibitors, Non-steroidal Anti-inflammatory Drugs (NSAIDs) and supplements.