Cipla gains on acquisition of stake in Yemen-based distributor

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Shares of Cipla rose nearly 2 per cent in early trade on Bombay Stock Exchange (BSE) after the pharma major said that it has signed a definitive agreement to acquire a 51 per cent stake in a pharmaceuticals manufacturing and distribution business in Yemen for $21 million

The shares of company rose as much as 1.22 per cent to trade at Rs 442.65 a piece on the BSE.

In a similar fashion, shares of the company rose 1.18 per cent to Rs 442.05 a piece on National Stock Exchange.

Meanwhile, the broader benchmark Sensex was quoting at 25,373.13, up 273.21 points or 1.09 per cent at 11.05 hours.

Read more about: cipla
Story first published: Monday, June 30, 2014, 13:10 [IST]
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