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08 Dec 2016 | 4:27 AM
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Equity Research Report: Master Pick-Cipla Ltd

Cipla has increased its R&D expenditure as a percentage of sales from six per cent a year before to eight per cent now to focus more on US markets. The company is looking at three to four filings a quarter in the US (20 over the next one year) and expects FY17 to see good traction in the world's largest health care market.
04 Mar 2016 | 06:00 PM
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Cipla has increased its R&D expenditure as a percentage of sales from six per cent a year before to eight per cent now to focus more on US markets. The company is looking at three to four filings a quarter in the US (20 over the next one year) and expects FY17 to see good traction in the world's largest health care market.

Cipla has compled its $ 550-million (around Rs 3575 crore) acquisition of US generic drug makers InvaGen and Exelan. This gives the company a bigger presence in the US market. This is its second major acquisition after the Rs 2,700-crore deal to buy South African drug firm Medpro in 2013.

In line with its past performance, it retested record high in Aug, 2015 when the markets were declining. But, it couldn’t manage to hold for long and started witnessing profit taking. It has retraced to major support zone of long term average of 200 EMA on weekly chart around 500 mark of late and formed a reversal candle. All indications are in the favor strong rebound ahead so traders should go long in the given range of 530-538 with close below stop loss of 504 for the target of 610.

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