Cipla share price falls the most among Nifty companies

The shares dropped to an intra-day low of ₹1,403 which happens to be 5.04% lower than the previous day’s close of ₹1,477.55.

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As of 11:30 am IST, Cipla’s shares were trading at ₹1,418.15, which is a dip of 59.40 points or 4.02 %.

The share price going into the red has been attributed to a number of factors such as supply constraints in Lanreotide medicine due to a delay in the clearance of the company’s Goa site as well as a product partner trying to increase its capacity, according to a Business Standard report which cited brokerages like Nomura and Nuvama.

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The pharma company had announced its second quarter results for the financial year 2024-25 yesterday on Tuesday, October 29, 2024.

The share price fall comes despite the company posting a 12.95% or a ₹149.64 crore growth in its ₹1,305.01 net profit, compared to ₹1,155.37 crore during the same quarter of the previous year.

Its revenues also increased by 5.58% or ₹372.87 crore to ₹7,051.02 crore from ₹6,678.15 crore earlier.

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