/ Cipla Zooms Over 1% Will Disinvest Stake In Animal Health Business By 100% ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Monday, 6 March 2017

In the opening session of Monday, the stock of Cipla gained over 1%, as the company entered into agreements for disinvestment of its stake in the animal health business. The company announced that it has entered into agreements through its wholly-owned subsidiary, Inyanga Trading 386 Proprietary with the group companies of Ascendis Health, South Africa.

In the agreement Cipla will disinvest 100% of its stake in Cipla Agrimed Proprietary and Cipla Vet Proprietary, South Africa. The consideration comes to a total of ZAR 375 million, with potential revision linked to FY2017’s performance.

The stock in a period of one year has delivered 10% returns, outperforming the BSE Healthcare index, and underperforming the BSE Sensex over the same time span.

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