Sharekhan has given Buy recommendation for Dr. Reddy’s Laboratories with a target price of Rs. 5550 in its research report issued on Apr 12, 2022

Sharekhan’s research report on Dr. Reddy’s Laboratories

DRL’s India business is expected to stage a double digit growth going ahead backed by a pick up across pain and respiratory therapy while the other therapies are expected to sustain the growth momentum. The performance of the US business is likely to be under stress in the near term due to sustained price erosion and slower product approvals. However over the long term, a strong product pipeline comprising limited competition products provides ample visibility on growth. DRL’s Q4Fy22 performance is expected to be weak as higher cost pressures and elevated raw material prices could result in a OPM’s declining on a yoy basis.

Outlook

We retain Buy recommendation on Dr Reddys Laboratories (DRL) with a revised PT of Rs 5,550.

More Info

At 17:30 Dr Reddys Laboratories was quoting at Rs 4,372.50, down Rs 7.35, or 0.17 percent.

It has touched an intraday high of Rs 4,405.30 and an intraday low of Rs 4,329.30.

It was trading with volumes of 9,710 shares, compared to its thirty day average of 21,453 shares, a decrease of -54.74 percent.

In the previous trading session, the share closed down 1.14 percent or Rs 50.30 at Rs 4,379.85.

The share touched its 52-week high Rs 5,613.65 and 52-week low Rs 3,655.00 on 07 July, 2021 and 04 March, 2022, respectively.

Currently, it is trading 22.39 percent below its 52-week high and 19.21 percent above its 52-week low.

Market capitalisation stands at Rs 72,769.70 crore.

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