Read why Cipla shares have fallen by 2%
Cipla shares fell 2.30% to Rs 1210.30 on BSE against the last close of Rs 1238.85. The scrip opened lower at Rs 1231 on Thursday.
Cipla shares dropped over 2% today after the pharmaceutical firm’s wholly owned US subsidiary, InvaGen Pharmaceuticals, got five inspectional adherence from the United States Food and Drug Administration (USFDA).
Cipla shares fell 2.30% to Rs 1210.30 on BSE against the last close of Rs 1238.85. The scrip opened lower at Rs 1231 on Thursday. The market cap of the company sank to Rs 98,036 crore. Cipla stock has a one-year beta of 0.3, meaning low volatility.
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Cipla stock has increased 13.48% this year. In a year, the share has delivered 13.69% returns. A total of 0.17 lakh stock changed hands, amounting to a turnover of Rs 2.12 crore on BSE. Cipla shares hit a 52-week low of Rs 852 on March 22, 2023, and a 52-week high of Rs 1277.55 on August 10, 2023.
In terms of technicals, the relative strength index (RSI) of the scrip is at 57.6, meaning it’s trading neither in the overbought nor in the oversold zone. Cipla stocks are trading lower than the five-day, ten-day, 20-day, and 50-day but higher than the 50-day, 100-day, 150-day, and 200-day moving averages.
