Cipla back on "buy" list of FIIs

By Research Desk
about 7 years ago

Cipla is trading with a lot of volume today, rising almost 2.5 times and the stock price rose over 2% to Rs.565 levels and is now trading at Rs.561.

Bargain hunting is the watch word today on the bourses and here, it is helped by some favorable reports from foreign brokerage houses too. On Saturday, HSBC had put out a report that it was giving a “buy” call on the counter with a target price of Rs.603 on the back of the company’s flagship product Sereflo getting final approval from the UK Medicines and Healthcare Products Regulatory Agency.

Today another foreign fund house has maintained its “buy” call on the stock and given a target price of Rs.660 – this is its current 52-wek high which it had hit on 29th Dec’15.

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