Dr Reddy’s Laboratories is trading higher by almost 3% higher at Rs 2,151, also its new high on BSE, in otherwise weak market ahead of its Q4 (January-March) results due on Tuesday, May 14.
The stock has rallied 8.3% in past three trading sessions compared to a marginal 0.39% rise in benchmark Sensex.
The stock opened at Rs 2,117 and hit a low of Rs 2,105 on BSE. A combined 186,745 shares changed hands on the counter till 1022 hours on BSE and NSE.
According to analyst at Karvy Broking, the pharmaceutical company will report revenue growth of 11.9% yoy at Rs 2,974 crore aided by US due to Propecia launch, scale up in Atorvastatin and Metaprolol. Net profit is likely to grow 18% at Rs 405 crore on year-on-year basis.
The company’s recent niche launches will offer upside to US sales in FY14. These niche products offer superior margin that will more than offset price erosion in mature portfolio, says analyst at Edelweiss Securities.
Apart from US, Russia continues to post robust growth, offering flexibility to invest in complex opportunities while India’s growth is also on the rise, he added.
Meanwhile, the company had last issued bonus shares in a ratio of 1:1 in 2006.
The stock has rallied 8.3% in past three trading sessions compared to a marginal 0.39% rise in benchmark Sensex.
The stock opened at Rs 2,117 and hit a low of Rs 2,105 on BSE. A combined 186,745 shares changed hands on the counter till 1022 hours on BSE and NSE.
According to analyst at Karvy Broking, the pharmaceutical company will report revenue growth of 11.9% yoy at Rs 2,974 crore aided by US due to Propecia launch, scale up in Atorvastatin and Metaprolol. Net profit is likely to grow 18% at Rs 405 crore on year-on-year basis.
The company’s recent niche launches will offer upside to US sales in FY14. These niche products offer superior margin that will more than offset price erosion in mature portfolio, says analyst at Edelweiss Securities.
Apart from US, Russia continues to post robust growth, offering flexibility to invest in complex opportunities while India’s growth is also on the rise, he added.
Meanwhile, the company had last issued bonus shares in a ratio of 1:1 in 2006.
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