Cipla share price jumps 5% in the morning trade today on the back of a large block deal. Cipla promoters and members of promoter group have offloaded a 2.5% stake worth Rs 2,637 crore via the block deal. As of 10:15 AM, Cipla share price was at Rs 1,417.45 on the NSE, up 4.43%.
Shirin Hamied, Samina Hamied, Rumana Hamied, Okasa Pharma Private Limited (Part of the Promoter and Promoter Group) sold upto 2.53% stake in company via block deal. There will now be a 90-day lock-in period for the sellers to sell any further stake in the company. Kotak Securities is said to be the sole broker to the deal.
