Rs 13/Share Dividend: Motilal Oswal Lists Large Cap Pharma Stock To Buy, TP Rs 1700

Motilal Oswal has recommended traders to buy large cap pharmaceuticals sector company Cipla Ltd shares to buy with target price of Rs 1700. Current market price of Cipla share on BSE is Rs 1480.40 per share. If you buy Cipla Ltd share now, you can fetch potential return of 14.83%. Board of Cipla Ltd on May 10 also recommended final dividend of Rs 13 per equity share of the face value of Rs 2/- per equity share for the FY ended March 31, 2024. Record date for Rs 13/share dividend is August 2, 2024. Cipla shares offered return of 46.6% in last 1-year and declined 3.93% in last 1-week.

Cipla Q4 Results: Cipla declared a growth of 78% in its consolidated net profit for the quarter ended March 31, 2024 to Rs 939 crore as against Rs 525.6 crore declared in the corresponding quarter of last year. Cipla announced its consolidated revenue from operations for March 2024 quarter at Rs 6082 crore, up 4% as against Rs 5793.3 crore declared in the corresponding quarter of last year.

LIC Stake In Cipla: LIC has a stake of 3.67% in Cipla with 29,568,683 shares of the company. FII/FPI have increased holdings from 25.73% to 25.82% in March 2024 quarter. Number of FII/FPI investors increased from 968 to 1031 in March 2024 quarter, according to Trendlyne.

Cipla Dividend: According to the BSE filing of Cipla issued as on May 10, 2024, "recommended payment of final dividend of Rs. 13 per equity share (face value of Rs. 2 per equity share) for the financial year ended 31st March 2024. The dividend, upon approval by the shareholders, will be paid within 30 days from the date of the Annual General Meeting. The record date for the purpose of payment of final dividend, if declared, shall be 2nd August 2024."

Dissolution Of Wholly Owned Step-Down Subsidiary: Cipla issued BSE filing on June 28 stating, "This is to inform you that in terms of the disclosure certificate issued by the Companies and Intellectual Property Commission, Republic of South Africa on 28th June 2024, Cipla Dibcare (Pty) Limited ("Cipla Dibcare"), wholly owned step-down subsidiary of the Company in South Africa, has been dissolved with effect from 26th June 2024." Cipla Dibcare was a dormant entity and this dissolution will not affect performance or revenue of the Company.

How To Be Eligible For Cipla Dividend? Record date plays key role in deciding eligibility of shareholders for obtaining dividend income. Individuals whose name appear in company's shareholders record as on the record date will become eligible to earn dividend announced by the company. Record date is the particular day on which a company confirms the list of shareholders eligible for its dividend distribution. Cipla Ltd set Aug 2 as the record date for dividend.

Cipla Share Performance & Return: The 52-week high price of Cipla Ltd share on BSE is Rs 1581.70 per share (as on 19/06/2024) and 52-week low price is Rs 997.00 per share (as on 04/07/2023), respectively. Cipla's market capitalisation stood at Rs 1,19,544.96 crore. Cipla's PE is 29.31 and ROE of 14.58. Cipla shares zoomed 18% year-to-date, gained 57% in last 2-years, and surged 167% in last 5-years. In last 2-weeks, Cipla shares fell over 5%.

Disclaimer: The stock has been picked from the brokerage report of Motilal Oswal. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.