A total of 1.39 crore shares of Cipla Ltd, representing 1.72 percent of the company’s equity, were sold through block deals on November 29. According to earlier reports by CNBC TV18, the company’s promoters are believed to be the sellers in this transaction.
The estimated value of the block trades was pegged at Rs 2,000 crore at a 6% discount to Cipla’s last close of Rs 1,529.9 on Friday, November 24, the report by CNBC TV18 said.
Cipla’s share price closed the trading day 2.6 per cent higher. In the last one year, the stock has jumped around 26 per cent, taking the company’s market capitalisation to Rs 1.2 lakh crore. The gain is much better compared to NSE Nifty 50 index, which rose over 16 per cent in the same period.
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Source: Moneycontrol
News Desk
