Cipla, a leading pharmaceutical company, has sold a 51 percent stake in Saba Investment, a UAE-based entity, for a total sum of $6 million. This transaction has resulted in Cipla Middle East Pharmaceuticals, UAE, and Cipla Medica Pharmaceutical and Chemical Industries, Yemen, no longer being subsidiaries of the company.
Recently, there has been significant attention on Cipla’s stock, with reports indicating a potential acquisition of the Hamied family’s stake in the company by Torrent Pharma. Over the past year, Cipla’s stock has experienced a 5.15 percent increase in its price, with an impressive 33.38 percent surge in the last six months. Year-to-date, Cipla’s stock has shown a notable 11.02 percent growth.
On Tuesday, Cipla’s shares closed in the red, ending the day at Rs.1183, marking a slight decrease of 0.27% on the NSE.
