Dr Reddy's Lab reveres intraday gain after declaring weak Q2 result

Dr Reddy's Laboratories lost 2.38% to Rs 3,007.20 at 12:25 IST on BSE, after consolidated net profit fell 16.82% to Rs 574.10 crore on 5.64% growth in total income to Rs 3614.37 crore in Q2 September 2014 over Q2 September 2013.

The Q2 result was announced during market hours today, 29 October 2014.

Meanwhile, the BSE Sensex was up 148.25 points, or 0.55%, to 27,029.07

On BSE, so far 41,451 shares were traded in the counter, compared with an average volume of 21,177 shares in the past one quarter.

The Dr Reddy's Laboratories stock reversed intraday gain in volatile trade after declaring weak Q2 result. The stock hit a high of Rs 3,117.30 and low of Rs 2,996 so far during the day. The stock had scaled a record high of Rs 3,353.85 on 25 September 2014. The stock hit a 52-week low of Rs 2,250 on 19 May 2014.

The stock had underperformed the market over the past one month till 28 October 2014, falling 4.54% compared with 0.96% rise in the Sensex. The scrip, however, outperformed the market in past one quarter, rising 11.35% as against Sensex's 3.42% rise.

The large-cap company has an equity capital of Rs 85.18 crore. Face value per share is Rs 5.

Dr Reddy's Laboratories is an integrated global pharmaceutical company. Through its three businesses - Pharmaceutical Services and Active Ingredients, Global Generics and Proprietary Products - Dr Reddy's offers a portfolio of products and services including active pharmaceutical ingredients (APIs), custom pharmaceutical services, generics, biosimilars and differentiated formulations.

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