You are here: Home » Markets » News
Business Standard

Dr Reddy's Laboratories nears lifetime high

Dr. Reddy's Holdings, the promoter group firm bought 6,500 shares of the company via open market on Sep 22, 2015.

SI Reporter  |  Mumbai 

Dr Reddy's Lab nears lifetime high

Dr Reddy’s Laboratories trading higher by 2.4% at Rs 4,284 on the BSE after the drug maker said that the promoter buying shares of the company through open market.

The stock hit an intra-day high of Rs 4,308, is less than 1% away from its lifetime high of Rs 4,337 touched on August 14 this year.

“Dr. Reddy’s Holdings, the promoter group company acquired 6,500 shares of the company from open market through stock exchange on September 22, 2015,” Dr Reddy’s Laboratories said in a BSE filing.

Post acquisition, Dr. Reddy’s Holdings stake in the company increased to 23.35% from 23.34% earlier, it added.

Dr. Reddy’s Holdings, which held 23.31% stake in Dr Reddy’s Laboratories as of June 30, 2015, has bought 66,250 of the company through open market in July-September quarter, data shows.

Since June 30, the stock has rallied 21% from Rs 3,551 compared to 3% decline in the S&P BSE Sensex.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Tue, October 06 2015. 10:31 IST