Shares of Cipla skyrocketed 10% to reach ₹1,560.05 on the NSE at 9:15 AM on October 31 after the US Food and Drug Administration (USFDA) classified the company’s Goa manufacturing facility as ‘Voluntary Action Indicated’ (VAI). This designation clears the way for Cipla to launch its key chemotherapy drug, Abraxane, in the US market, boosting growth prospects.
Cipla’s Q2 results, reported on October 29, showed a 15% year-on-year increase in consolidated net profit to ₹1,303 crore and a 6% revenue rise to ₹7,051 crore, with EBITDA growing 12%. The stock’s sharp rise reflects both positive regulatory news and strong quarterly performance, sparking renewed investor interest in today’s session.
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