Cipla gains nearly 5% after $14 million deal

Posted by: Religare
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Shares of Cipla rose nearly 5 per cent in early trade on Bombay Stock Exchange (BSE) after the pharmaceutical company said it has acquired 60% stake in a new company in Sri Lanka for $14 million (nearly Rs 85 crore) to market its product in the country.

The shares of company rose as much as 4.40 per cent to trade at Rs 431 a piece on the BSE.

In a similar fashion, shares of the company rose 4.37 per cent to Rs 431 a piece on National Stock Exchange.

Meanwhile, the broader benchmark Sensex was quoting at 25,526.92, up 5.73 points or 0.02 per cent at 10.59 hours.

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