Dr Reddy's Lab slips on profit booking

Dr Reddy's Laboratories fell 3.09% to Rs 4,062.40 at 12:26 IST on BSE, with the stock sliding on profit booking after a recent rally.

Meanwhile, the S&P BSE Sensex was up 58.21 points or 0.23% at 25,675.05.

On BSE, so far 17,000 shares were traded in the counter as against average daily volume of 20,480 shares in the past one quarter.

The stock hit high of Rs 4,147 and a low of Rs 4,023.10 so far during the day. The stock had hit a record high of Rs 4,337 on 14 August 2015. The stock had hit a 52-week low of Rs 2,883.40 on 17 October 2014.

The stock had outperformed the market over the past one month till 28 September 2015, rising 0.31% compared with Sensex's 2.94% fall. The scrip had also outperformed the market in past one quarter, surging 19.01% as against Sensex's 7.89% fall.

The large-cap pharma firm has equity capital of Rs 85.29 crore. Face value per share is Rs 5.

Shares of Dr Reddy's Laboratories (DRL) had rallied 6.7% in the preceding three trading sesssions to settle at Rs 4,191.85 yesterday, 28 September 2015, from a recent low of Rs 3,928.55 on 22 September 2015. The stock had surged 5.54% on a single trading session yesterday, 28 September 2015, after the company announced during market hours on 28 September 2015, that it has launched Esomeprazole Magnesium Delayed-Release capsules USP, 20 mg and 40 mg, a therapeutic equivalent generic version of Nexium (esomeprazole magnesium) delayed-release capsules in the US market on 25 September 2015, following the approval by the United States Food & Drug Administration (USFDA).

On consolidated basis, Dr Reddy's Laboratories' net profit rose 13.7% to Rs 625.65 crore on 6.8% growth in net sales to Rs 3757.76 crore in Q1 June 2015 over Q1 June 2014.

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

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