 "Dr Reddy's Lab at new high ahead of Q2 earnings")
Dr Reddy’s Laboratories has moved higher by over 4% at Rs 2,537, also its record high on the NSE, ahead of July-September quarter (Q2) earnings tomorrow.
The stock opened at Rs 2,436 and hit a low of Rs 2,434 in early morning deals on NSE. A combined around 350,000 shares have changed hands on the counter till 1350 hours on NSE and BSE.
The pharmaceutical company is expected to register year-on-year (yoy) revenue growth of 15% to end the period at Rs 3,313 crore. The net profit is expected to increase by 8.3% yoy in 2QFY2014 to end the period at Rs 498 crore.
Analyst at Edelweiss Securities expect key approvals and niche launches like Aricept (23mg), Lamotrigine, Dacogen, Depakote ER to scale up US business.
The company’s revenue growth will be around 15 % YoY. US market generics (30%YoY) will be the main driver of growth. While Europe and Russia region will show growth of 16% YoY and 15% respectively, says analyst at Karvy Stock Broking in a report.
Meanwhile, the stock has outperformed the market by surging 17% in past three months compared to 8.8% rise in benchmark CNX Nifty and 7.6% gain in CNX Pharma.
The stock opened at Rs 2,436 and hit a low of Rs 2,434 in early morning deals on NSE. A combined around 350,000 shares have changed hands on the counter till 1350 hours on NSE and BSE.
The pharmaceutical company is expected to register year-on-year (yoy) revenue growth of 15% to end the period at Rs 3,313 crore. The net profit is expected to increase by 8.3% yoy in 2QFY2014 to end the period at Rs 498 crore.
Analyst at Edelweiss Securities expect key approvals and niche launches like Aricept (23mg), Lamotrigine, Dacogen, Depakote ER to scale up US business.
The company’s revenue growth will be around 15 % YoY. US market generics (30%YoY) will be the main driver of growth. While Europe and Russia region will show growth of 16% YoY and 15% respectively, says analyst at Karvy Stock Broking in a report.
Meanwhile, the stock has outperformed the market by surging 17% in past three months compared to 8.8% rise in benchmark CNX Nifty and 7.6% gain in CNX Pharma.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%