Cipla shares in news on Q4 earnings, dividend announcement

Shares of Cipla are in news today after firm reported a 78% rise in consolidated net profit for the March 2024 quarter. Net profit climbed to Rs 939 crore for the quarter ended March 2024 against Rs 525.6 crore in Q4 of FY23. Consolidated revenue from operation climbed 4% to Rs 6082 crore, against Rs 5,793.3 crore in the corresponding period a year ago.

The Board has also recommended the payment of a final dividend of Rs 13 per equity share for the financial year 2024. On Friday, Cipla shares ended 1.42% lower at Rs 1339 on BSE against the previous close of Rs 1358.80. The stock opened higher at Rs 1380.85 in the previous session.

Market cap of the firm fell to Rs 1.08 lakh crore. Cipla stock has a one-year beta of 0.2, indicating low volatility during the period. Cipla stock has risen 7.07% this year. In a year, the stock has delivered 41.90% returns. Total 2.11 lakh shares changed hands amounting to a turnover of Rs 28.50 crore on BSE. Cipla stock hit a 52-week low of Rs 897.70 on May 15, 2023 and a 52 week high of Rs 1519 on March 11, 2023 .

In terms of technicals, the relative strength index (RSI) of the stock stands at 33 signaling aling it's trading neither in the overbought nor in the oversold zone. Cipla shares are trading lower than the 5 day, 10 day, 20 day, 50 day but higher than the 50 day, 100 day, 150 day and 200 day moving averages. Cipla is in the business of manufacturing, developing, and marketing wide range of branded and generic formulations and Active Pharmaceutical Ingredients (APIs). The company has its wide network of manufacturing, trading and other incidental operations in India and International markets.