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Cipla share price falls the most among Nifty companies
Cipla share price fell the most in terms of percentage among all the 50 companies in the NSE Nifty today
Cipla share price: Cipla Ltd shares fell the most in terms of percentage among all the 50 companies in the NSE Nifty today on Wednesday, October 30, 2024.
The shares dropped to an intra-day low of ₹1,403 which happens to be 5.04% lower than the previous day's close of ₹1,477.55.
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As of 11:30 am IST, Cipla's shares were trading at ₹1,418.15, which is a dip of 59.40 points or 4.02 %.
The share price going into the red has been attributed to a number of factors such as supply constraints in Lanreotide medicine due to a delay in the clearance of the company's Goa site as well as a product partner trying to increase its capacity, according to a Business Standard report which cited brokerages like Nomura and Nuvama.
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The pharma company had announced its second quarter results for the financial year 2024-25 yesterday on Tuesday, October 29, 2024.
The share price fall comes despite the company posting a 12.95% or a ₹149.64 crore growth in its ₹1,305.01 net profit, compared to ₹1,155.37 crore during the same quarter of the previous year.
Its revenues also increased by 5.58% or ₹372.87 crore to ₹7,051.02 crore from ₹6,678.15 crore earlier.
