Stocks

Cipla shares rise nearly 2 per cent

PTI New Delhi | Updated on November 28, 2019 Published on November 28, 2019

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 was up 1.83 per cent at ₹476.35. The stock moved 1.81 per cent higher to trade at ₹476.50 on the NSE. At 12.50 pm, the stocks of Cipla were trading 0.40 per cent higher at ₹469.60.

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.

Published on November 28, 2019
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