Rs 13/Share Dividend Recommended: Buy Pharma Stock For TP Rs 1600, Check Eligibility

Large Cap Pharmaceuticals sector company Cipla Ltd shares declined 2.50% in last 1-week. Current market price of Cipla share on BSE is Rs 1448.15 per share. Board of Directors of Cipla on May 10 recommended Rs 13 per equity share of the face value of Rs 2/- per equity share for the FY ended March 31, 2024. The record date for dividend, if declared, will be August 2, 2024. Cipla Ltd share offered return of 51.77% in last 1-year and gained 19.53% in last 6-months.

The company announced a stunning jump of 78% in its consolidated net profit for the quarter ended March 31, 2024 to Rs 939 crore as compared to Rs 525.6 crore announced in the similar quarter of last year. Cipla declared its consolidated revenue from operations for March 2024 quarter at Rs 6082 crore, up 4% as against Rs 5793.3 crore announced in the corresponding quarter of last year. More details below:

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

Cipla Latest Dividend Recommendation: According to the exchange filing of Cipla 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."

Should You Buy Cipla Shares? Motilal Oswal has placed buy call on Cipla shares with target price of Rs 1600. According to the analyst, ""While g-Revlimid contributed meaningfully to overall earnings for FY24, we expect a 12% earnings CAGR over FY24-26. This would be largely driven by: commercialization of complex assets in the US and outperformance of chronic therapies in the DF segment, a transformed operating model in trade generics, and sustained growth in the consumer healthcare segment."

Prabhudas Lilladher has accumulate call on Cipla share with target price of Rs 1405 per share. InCred Equities recommended hold call to Cipla with target price of Rs 1,479. Kotak Institutional Equities issued add call to Cipla share with a target price of Rs 1,550 (earlier it was Rs 1,545).

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 1519.00 per share (as on 11/03/2024) and 52-week low price is Rs 897.70 per share (as on 15/05/2023), respectively. Cipla's market capitalisation stood at Rs 1,16,930.25crore. Cipla's PE is 28.68 and ROE of 14.58. Cipla shares witnessed gain of 46% in last 2-years, soared 53% in last 3-years, and surged 159% in last 5-years. In last 10-years, Cipla stock rallied 277%.

Cipla Dividend History: Cipla Ltd. has declared 25 dividends since Aug. 6, 2001. In last 12 months, Cipla Ltd announced an equity dividend of Rs 8.50 per share. At the current share price of Rs 1318.80 per share, Cipla Ltd offers a dividend yield of 0.59%. It is worth mentioning Cipla recommended highest dividend after 20-years in 2023 at Rs 8.50 per share. Earlier, Cipla declared Rs 10 per share dividend in 2003.

Disclaimer: The stock has been picked from the brokerage report of Motilal Oswa, Prabhudas Lilladher, Kotak Institutional Equities, and InCred Equities. 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.