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This is an archive article published on March 23, 2011

Cipla gains over 4% on tax withdrawal

Cipla witnessed an impressive trading session,closing 4.13 per cent higher at Rs 304.15 a piece.

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Pharma giant Cipla on Wednesday surged by over 4 per cent on BSE amid the swing in the healthcare sector after government’s announcement on Tuesday to withdraw service tax on hospitals and smart buying in the broader market.

Cipla witnessed an impressive trading session,closing 4.13 per cent higher at Rs 304.15 a piece on Bombay Stock Exchange (BSE). The counter was the best performer among the Sensex 30 index companies.

During the intra-day trading,it gained up to 4.75 per cent to Rs 306 a piece.

Similarly,the phara major rose by 4.92 per cent to Rs 305.95 on National Stock Exchange. On the volume front,over 16 lakh shares of the company were traded on both the bourses. Market observers attributed the surge to overall bullish sentiment on the Dalal Street on Wednesday.

Meanwhile,the BSE benchmark Sensex closed 217.86 points up at 18,206.16 level.

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