Sumeet Bagadia of Choice Broking has chosen Cipla as his ‘Valentine s Day 2024 Pick’. Bagadia has recommended a ‘Buy’ on the pharma stock at ₹1,450 and up to ₹1,415 for a target price of ₹1,600 to ₹1,660.
Samina is the niece of Cipla non-executive chairman YK Hamied, and daughter of his brother and non-executive vice-chairman, MK Hamied. The company said she would continue as a non-executive director.
On Monday, Cipla reported a 31.8% year-on-year (YoY) jump in its October-December quarter consolidated net profit at Rs 1,056 crore. It was Rs 801 crore in the year-ago period.
The product, Vigabatrin for oral solution, USP 500mg, is used for the treatment of refractory complex partial seizures as adjunctive therapy in patients 2 years of age and older.