Cipla shares rally 9% on strong Q1 show; can this pharma stock gain further?

Cipla shares surged 9% after the company reported strong Q1 results

The pharma major's net profit rose 73% YoY to Rs 566 crore in Q1 FY22

Revenue grew 26% YoY to Rs 4,902 crore

Cipla's India business grew 37% YoY, while South Africa business grew 28% YoY

The company's US business grew 17% YoY, driven by strong demand for inhalers and gProventil

Cipla's management expects the momentum to continue in the coming quarters

The company is focusing on expanding its respiratory portfolio and launching new products

Cipla is also looking to expand its presence in the US and other key markets

The pharma sector has been in focus amid the COVID-19 pandemic

Cipla's strong Q1 performance has boosted investor sentiment towards the stock

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