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On the technical charts, the RSI of the stock stood at 49.8.

Promoters held 58.42 per cent stake in the company as of 31-Dec-2022, while FII and DII ownership stood at 27.41 per cent and 2.61 per cent, respectively.

During the proceedings, senior advocate Mukul Rohatgi representing ZEEL, submitted that insolvency was initiated against the media firm for being a corporate guarantor for a loan provided to Siti Networks.

The stock traded at a P/E multiple of 48.5, while the price-to-book value ratio stood at 2.91.

A total of 402,151 shares changed hands on the counter till 12:56PM (IST).

Cipla, incorporated in the year 1935, is a Large Cap company (having a market cap of Rs 77400.61 Crore) operating in Pharmaceuticals sector.

Amid weak global cues and stress over the trajectory of future rate hikes by central banks, the domestic equity market continued its downward trajectory of last week on Monday. While bank stocks showed resilience in morning, IT stocks were the worst affected.

“I still think that we can have a decent year for the S&P, perhaps even a very good year but we are entering into March, April, May which is a seasonally weak time of the year and the stocks go up and down. The market will be choppy until there is more certainty that inflation is on the decline.”

The Relative Strength Index of the stock stood at 35.69 on Monday.

Shares of Adani Green have plunged more than 74% since the report was released and hit fresh 52-week lows. The quantum of losses have been similar or a little more for the other group companies.