On the last day of the October expiry series, the market opened on a red mark. But, in the early business on Thursday, two stocks are preparing to take the Nifty up today. These two stocks are L&T and Cipla. In the pre-opening itself, the stock of pharma sector company Cipla was witnessing a rise.

As soon as the market opened, this stock opened with a gain of 7-8%. But, after some time this gain managed to increase to 10%. Actually, a fresh news has come about Cipla, after which this stock is seeing such a boom today.

The US drug regulator US FDA has given VAI status to this Goa facility of Cipla. This facility was inspected by the US FDA between 10 - 31 June 2024. After this 6 observations were issued. Getting VAI status to the Goa facility means that the company can launch its special product Abraxane generic. This drug is used during chemotherapy during cancer treatment. The market size of this drug is $ 700 million. At present, only one company Sandoz got approval in October 2024. After this, global brokerage firm Citi also issued a note on Cipla, saying that Abraxane will be an important product for the company's Goa facility. With this clearance, it is now likely that this drug will be launched in the current financial year itself. Earlier it was expected to be launched in the financial year 2026 - 2027. Citi has set a target price of ₹ 1,830 per share while keeping a Buy opinion on this stock. It has also said that after this update, Cipla's pipeline visibility has improved. Out of 38 analysts covering Cipla, 21 have a Buy opinion on the stock. 8 analysts have a Hold opinion on the stock and 9 have a Sell opinion. So far this year, this stock has seen a rise of 22%. The 52-week high of this stock is at ₹ 1,702.05 per share.