Cipla pares early gains; shares down over 2% at close
Shares of Cipla today gave up early gains and ended over 2 percent down due to profit-booking.
The scrip settled at Rs 619.25, down 2.23 percent on BSE. During the day, the stock surged 4.49 percent to Rs 661.90.
At NSE, shares of the company slipped 2.11 percent to end at Rs 619.15.
Drug major Cipla yesterday posted a 10 percent increase in its consolidated net profit to Rs 451 crore for the first quarter ended June 30, driven by robust sales across various markets.
The company had reported a net profit of Rs 409 crore in the same period of the previous fiscal.
Total income from operations stood at Rs 3,939 crore in the quarter, as compared to Rs 3,525 crore earlier.
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