Buy Cipla; target of Rs 950: Sharekhan

Sharekhan's research report on Cipla

Q3FY2021 was a strong quarter with margins expanding sturdily on account of cost optimisation efforts. Results are ahead of estimates. Cipla’s One-India strategy has played out well and has yielded synergies across its business. Increased prescription generation backed by sustained traction in chronic and a likely revival in the acute therapy would drive growth of the India business. Healthy growth prospects across geographies, strong earnings visibility, and a healthy balance sheet augur well and will be key positives for Cipla.

Outlook

We maintain our Buy recommendation on the stock of Cipla with an unchanged PT of Rs. 950.

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