Dr Reddy's Laboratories rose 1.33% to Rs 3,143.50 at 14:06 IST on BSE after the company announced the relaunch of its Esomeprazole Magnesium Delayed-Release Capsules in the US market.
The company made the announcement during market hours today, 30 December 2015.
Meanwhile, the S&P BSE Sensex was down 11.79 points or 0.05% at 26,067.69.
On BSE, so far 39,000 shares were traded in the counter as against average daily volume of 69,414 shares in the past one quarter.
The stock was volatile. The stock rose as much as 2.21% at the day's high of Rs 3,171 so far during the day. The stock rose 0.59% at the day's low of Rs 3,120.85 so far during the day. The stock had hit a record high of Rs 4,382.95 on 20 October 2015. The stock had hit a 52-week low of Rs 2,950.50 on 11 December 2015.
The stock had outperformed the market over the past one month till 29 December 2015, gaining 0.1% compared with Sensex's 0.19% fall. The scrip had, however, underperformed the market in past one quarter, sliding 23.87% as against Sensex's 1.17% rise.
The large-cap company has equity capital of Rs 85.30 crore. Face value per share is Rs 5.
Dr Reddy's Laboratories announced the relaunch of its Esomeprazole Magnesium Delayed-Release Capsules, a therapeutic equivalent generic version of Nexium Delayed Release capsules in the US market. Nexium is a registered trademark of Astrazeneca AB Corporation. The re-launch is due to a change in the capsule color.
Dr Reddy's Laboratories' consolidated net profit rose 25.7% to Rs 721.89 crore on 11.2% growth in net sales to Rs 3988.96 crore in Q2 September 2015 over Q2 September 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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