Cipla Share Falls: Two promoters of the giant pharma company Cipla have sold 2 crore shares, due to which its shares fell.
Cipla Share Falls: Two promoters of the giant pharma company Cipla have sold 2 crore shares, due to which its shares fell. Today its price fell by more than 3 percent and closed at Rs 921.75 with a slippage of Rs 33.50 on BSE. According to the information given in the regulatory filing by the company, two senior members of the promoter family of Cipla have sold 2.5 per cent of the total issue and paid-up share capital. Due to this, the pressure on its shares increased and the prices broke down.
At what price the shares were sold, it is not disclosed
According to the BSE filing, the company’s non-executive and promoters chairman YK Hamied and vice chairman MK Hamied have sold 2,01,69,756 shares on Tuesday (February 15). After this sale, the promoter group’s stake in the company will increase to 34.23 percent. Cipla’s Executive Vice Chairman Samina Hamied has given this information. However, it is not yet disclosed at what price the shares were sold.
Auto Stock Tips: Expected strong sales of vehicles in FY23, market experts bet on these stocks
The money raised from the sale will be used for charity
Samina has informed that the senior promoters of Cipla are in their eighties and will use the money raised through the sale of shares for their personal needs apart from the welfare of the people. However, after this the promoter group does not plan for additional sale of shares. Cipla was founded about 87 years ago in 1935 and is today headed by a third generation of founding members.
Macleods Pharma IPO: The giant pharma company has submitted papers for 5 thousand crore IPO, business has spread in more than 170 countries including India
Shares are at 8% discount
Cipla’s share price is currently at a discount of about 8 percent from the record level of 52 weeks. Last year, this stock had reached a price of Rs 1005 on 29 September 2021, which is a record price of 52 weeks or one year. However, it is at a premium of around 25 per cent from the record low of 52 weeks. Last year on March 19, 2021, it had slipped at a price of Rs 738.25 and today it is at a price of Rs 921.75 with a premium of about 25 percent.
Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.
,