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Cipla could test high of Rs 830 by end of December: Prakash Diwan

Updated : December 14, 2020 11:02:17 IST

Cipla settling the patent litigation on the Revlimid drug is on anticipated lines, said market expert Prakash Diwan.

“We have seen a lot of the other names also come forward and carry out this settlement and Cipla was also logically expected to do so,” he said in an interview to CNBC-TV18.

Diwan also said that this was a trigger not just for Cipla, but for the pharma pack as a whole.

“I would believe Cipla definitely calls for attention and it could test Rs 830 kind of highs by the time the numbers are out for December end quarter,” he said.

On Mahindra and Mahindra (M&M), he said, “Even though I am not very positive largely on autos right now given the fact that we have already seen that pent up buying, all of the good news priced in, and we would have to see a resumption of secular demand coming in from January onwards for rest of the players to justify the kind of valuation, but M&M has the mix of tractors, passenger vehicles (PV), commercial vehicle (CV), all of it and definitely this is going to be positive for the stock.”

Disclaimer: The views and investment tips expressed by investment experts on CNBCTV18.com are their own and not that of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.
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