The market breadth was in favour of the advances with 900 stocks advancing while 658 declined and 471 remained unchanged. On the other hand, in the BSE, 988 stocks advanced and 705 declined and 89 remained unchanged.
"The company is fairly valued at current market price. However, if Q4FY18 results are robust then we can expect a target of Rs 650 by FY19 end," says Akash Jain, Vice-president, Equity Research at Ajcon Global Services.
"Its respiratory platform will be the key driver in scaling up its US business trajectory even as its India continues to grow at double-digits. We have a buy rating on the stock with a target of Rs 650," says S Ranganathan, Head of Research at LKP Securities.
"The United States Food and Drug Administration (USFDA) conducted a routine current Good Manufacturing Practices (cGMP) audit at its Indore formulations facility from April 2, 2018 till April 13, 2018," Cipla said in a BSE filing.
Net Sales are expected to increase by 6.2 percent Y-o-Y (down 2.8 percent Q-o-Q) to Rs. 3,805.3 crore, according to Edelweiss.
The top Nifty gainers included Cipla which was jumped 4 percent while Grasim Industries gained 2.5 percent. Hero MotoCorp and Indiabulls Housing Finance along with Kotak Mahindra Bank were the other gainers.
The US Food and Drug Administration has recently completed its inspection of Cipla's Indore facility.
The market breadth was in favour of the advances with 1432 stocks advancing while 306 declined and 314 remained unchanged. On the other hand, in the BSE, 1997 stocks advanced and 546 declined and 130 remained unchanged.
Here are the biggest deals in the pharmaceuticals industry. Read on to find out which were successful.
The United States Food and Drug Administration (USFDA) had conducted a product specific pre-approval inspection at company's Goa plant in January 2018, Cipla said in a BSE filing.
Cipla told CNBC-TV18 the Goa unit observations are procedural & addressable in nature.
Cipla has put its biosimilar development programme on the backburner as part of business rationalisation. However, the drug maker is trying to distribute products of other companies through in-licensing and partnerships.
Geojit recommended hold rating on Cipla with a target price of Rs 653 in its research report dated February 21, 2018.
Sudarshan Sukhani of s2analytics.com is of the view that one can buy Bata India, Cipla, Hindustan Unilever and Tata Elxsi and can sell Bharti Airtel.
KR Choksey is bullish on Cipla has recommended buy rating on the stock with a target price of Rs 714 in its research report dated February 08, 2018.
Rajat Bose of rajatkbose.com recommends buying Gujarat Alkalies, GNFC and Cipla.
CLSA estimates robust 30 percent earnings CAGR for FY18-20, while retaining Buy rating on the stock with a target price of Rs 750 per share.
The market breadth was in favour of the advances on Thursday morning with 1338 stocks advancing while 241 stocks declined and 427 stocks remained unchanged. On the BSE, 1548 stocks advanced while 349 stocks declined and 52 remained unchanged.
Operating profit at Rs 818.7 crore and margin at 20.9 percent were ahead of estimates of Rs 791 crore and 19.3 percent, respectively.
Operating profit is expected to increase 16.7 percent year-on-year to Rs 791 crore and margin may expand 70 basis points to 19.3 percent in Q3.
Cipla in a BSE filing said it has received final approval from the United States Food and Drug Administration (USFDA) for tenofovir disoproxil fumarate tablets, 300 mg.
Sudarshan Sukhani of s2analytics.com is of the view that one can buy Cipla, IndusInd Bank, Maruti Suzuki and Apollo Tyres and can sell India Cements.
The market breadth was in favour of the advances on Thursday morning with 804 stocks advancing as against 782 declines while 418 remained unchanged. On the other hand, 1051 stocks advanced and 948 stocks declined while 85 remained unchanged on the BSE.
Sudarshan Sukhani of s2analytics.com is of the view that one can buy Cipla, DLF, Sun TV Network and ITC and exit Apex Frozen Foods.
Ashwani Gujral of ashwanigujral.com is of the view that one can buy Ashok Leyland, NMDC and JSW Steel.