Cipla Ltd is down for a fifth straight session today. The stock is quoting at Rs 811.55, down 1.48% on the day as on 13:19 IST on the NSE. The benchmark NIFTY is down around 0.83% on the day, quoting at 14314.3. The Sensex is at 48700.68, down 0.68%.Cipla Ltd has added around 4.25% in last one month.Meanwhile, Nifty Pharma index of which Cipla Ltd is a constituent, has increased around 4.05% in last one month and is currently quoting at 13014.25, down 1.83% on the day. The volume in the stock stood at 26.51 lakh shares today, compared to the daily average of 49.45 lakh shares in last one month.

The benchmark January futures contract for the stock is quoting at Rs 811.85, down 1.86% on the day. Cipla Ltd jumped 69.02% in last one year as compared to a 17.09% rally in NIFTY and a 54.49% spurt in the Nifty Pharma index.

The PE of the stock is 29.61 based on TTM earnings ending September 20.

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Cipla will hold a meeting of the Board of Directors of the Company on 29 January 2021.

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Cipla has allotted 9,128 equity shares of Rs.2/- each pursuant to exercise of the stock options by the option grantees under Employee Stock Option Scheme 2013-A of the Company.

Consequently, the issued, subscribed and paid-up share capital of the Company stands increased to Rs. 1,61,29,10,458/- comprising of 80,64,55,229 equity shares of face value Rs.2/- each.

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In this collaboration, Cipla will be responsible for the marketing and distribution of the rapid antigen detection test for the qualitative detection of SARS-CoV-2 antigen that will be manufactured by Premier Medical Corporation.

The test is a rapid point-of-care nasopharyngeal swab test that directly detects the presence or absence of coronavirus antigen in the patient's body, generating results within 15-20 minutes. Only authorised labs are permitted by ICMR to conduct the rapid antigen testing. The test will be marketed under the brand name 'CIPtest'.

CIPtest is a reliable high-performing kit that has been validated and approved by ICMR. It is found to have specificity and sensitivity of 98.09% and up to 75% respectively. The test is not only rapid with a quick turn-around time, but also enables easy interpretation of results without the need of any additional instrument. Cipla's expansive distribution network will help in ensuring supply of kits across the country.

Cipla is a global pharmaceutical company focused on complex generics, and deepening its portfolio in the markets of India, South Africa, North America, and key regulated and emerging markets.

The drug major reported a 37.8% jump in consolidated net profit to Rs 661.85 crore on 16.6% increase in net sales to Rs 4,972.58 crore in Q2 FY21 over Q2 FY20.

Shares of Cipla were up 0.36% at Rs 784.50. The scrip traded in the range of Rs 782.50 to Rs 788.50 so far during the day.

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