Dr Reddy's Labs reverses direction after striking record high

Meanwhile, the BSE Sensex was down 386.84 points, or 1.92%, to 19,735.48.

On BSE, 37,433 shares were traded in the counter as against an average daily volume of 16,400 shares in the past one quarter.

The stock hit a record high of Rs 2,150.90 in intraday trade today, 13 May 2013. The stock hit a low of Rs 2,055 so far during the day. The stock had hit a 52-week low of Rs 1,528 on 19 June 2012.

The stock outperformed the market over the past one month till 11 May 2013, gaining 10.83% compared with the Sensex's 8.52% rise. The scrip also outperformed the market in past one quarter, surging 10.05% as against Sensex's 3.4% gain.

The large-cap company has an equity capital of Rs 84.91 crore. Face value per share is Rs 5.

Dr Reddy's Laboratories declares Q4 results tomorrow, 14 May 2013. The company's consolidated net profit declined 29.2% to Rs 363.31 crore on 3.5% growth in net sales to Rs 2865.16 crore in Q3 December 2012 over Q3 December 2011.

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 APIs, custom pharmaceutical services, generics, biosimilars, differentiated formulations and NCEs. Therapeutic focus is on gastro-intestinal, cardiovascular, diabetology, oncology, pain management, anti-infective and pediatrics. Major markets include India, USA, Russia and CIS, Germany, UK, Venezuela, S. Africa, Romania, and New Zealand.

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