Cipla shares rise marginally post agreement with CitiHealth Imports

Shares of Cipla on Thursday rose nearly 2 per cent after the pharma major said its arm has signed an agreement with CitiHealth Imports to acquire remaining 40 per cent stake in Cipla Pharma Lanka. On the BSE, the stock hit intra-day high of Rs 476.35, up 1.83 per cent. It settled 0.22 per cent up at Rs 468.80.

During the day, the scrip moved 1.81 per cent up to Rs 476.50 on the NSE. It closed the session 0.26 per cent up at Rs 469.20. The BSE saw an exchange of 1.03 lakh shares whereas, the NSE witnessed trade of over 29 lakh shares of Cipla.

The pharma company on Wednesday said its arm Cipla (EU) Ltd has signed an agreement with CitiHealth Imports to acquire remaining 40 per cent stake in Cipla Pharma Lanka. Cipla (EU) Ltd already has a 60 per cent stake in Cipla Pharma Lanka Pvt Ltd. Post-acquisition, Cipla Pharma Lanka will become a wholly-owned subsidiary, Cipla said in a filing to the BSE.

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