Cipla Extends Gains For Second Straight Day On Strong June Quarter Earnings
Cipla shares extended their rally for the second consecutive session, building on the 9 per cent gains garnered in the previous session, on the back of the company's strong performance in the quarter ended June 2,020. However, at 10:20 am, the shares had succumbed to profit-booking, shedding 1.9 per cent to Rs 786, on the BSE.
The shares of Cipla had soared more than 9 per cent on Monday after the company reported strong financial results for the April-June period.
On Friday, the company had reported a net profit of Rs 577.91 crore in the quarter ended June 30, marking a jump of 20.85 per cent compared to the corresponding period a year ago.
The company's revenues from operations grew to Rs 4,346.1 crore in the first quarter of current financial year, from Rs 3,989.02 crore in the year-ago period.
The BSE Sensex was at 38,470.90, higher by 291.25 points or 0.75 per cent and the NSE Nifty was at 11348.20, up 77.70 points or 0.69 per cent at the time.
