Dr Reddy's Labs hits over 4-year high, surges 62% from March low

Analysts believe Dr Reddy's US business, which has been facing revenue pressure, is likely to rebound with new product launches and the gradual normalization of price erosion in its key products.

Shares of Dr Reddy’s Laboratories hit an over four-year high of Rs 4,036, up 5 per cent on the BSE on Tuesday in an otherwise weak market. The stock of pharmaceutical company was trading at its highest level since November 2015. It hit an all-time high of Rs 4,383 on October 20, 2015.

With today’s rally, the share price of Dr Reddy’s Laboratories has surged 62 per cent from its previous month low of Rs 2,498,  touched on March 19, 2020 in the intra-day trade.

Analysts remain confident on the strong demand scenario for pharma sector from both