Mumbai, June 22 -- The target price indicates a potential upside of about 20.23% from the current market price.

The brokerage expects a series of near-term developments to support the stock. These include the anticipated approval of gFlovent from Cipla's Goa facility and the planned launch of gVentolin, both of which could strengthen the company's position in the US market.

The brokerage also highlighted the strong performance of Nintedanib in the US, where the product has captured nearly half of the market. It expects Cipla's US business to return to growth after a period of weakness.

The brokerage said the company's India business remains resilient, supported by a recovery in its respiratory portfolio. It added that a re-inspection o...