 "pharma, labs, research, medical, healthcare")
Dr. Reddy’s Laboratories Ltd., one of India’s largest drug firms, is the nation’s worst-performing stock in July on disappointing earnings and a US probe. But one technical indicator suggests the shares could be due a snap back.
The stock’s relative strength index has dropped to a level indicating the shares are oversold. When that’s happened over the past five years, shares of the Hyderabad-based company have rallied about 15% on average in the 20 subsequent trading sessions, according to data compiled by Bloomberg.
Dr. Reddy’s earnings trailed estimates and the company has disclosed that it’s responding to
