Market

Neutral on Cipla, target price Rs 840: Motilal Oswal

Motilal Oswal has neutral call on with a target price of Rs 840. The current market price of Cipla is Rs 873.65.

Cipla Ltd., incorporated in the year 1935, is a Large Cap company (having a market cap of Rs 72908.31 Crore) operating in Pharmaceuticals sector. Cipla Ltd.

Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 4666.58 Crore, down -11.21 % from last quarter Total Income of Rs 5255.63 Crore and up 4.41 % from last year same quarter Total Income of Rs 4469.37 Crore. Company has reported net profit after tax of Rs 415.51 Crore in latest quarter.


Investment Rationale
The brokerage continues to value CIPLA at 22x 12M forward earnings to arrive at TP of INR840 on a 12M forward earnings basis. It maintains Neutral on a limited upside from current levels


Promoter/FII Holdings
Promoters held 36.7 per cent stake in the company as of March 31, 2021, while FIIs held 20.4 per cent, DIIs 19.4 per cent and public and other 23.5 per cent.



(Views and recommendations given in this section are the analysts’ own and do not represent those of ETMarkets.com. Please consult your financial adviser before taking any position in the stock/s mentioned.)

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