Prabhudas Lilladher recommended hold rating on Dr. Reddy's Laboratories with a target price of Rs 5150 in its research report dated July 27, 2023.

Tuesday, August 08, 2023, marked a remarkable day for the BSE 100 index as several key stocks surged to new 52-week highs, underscoring strong market performance and heightened investor optimism.

Dr. Reddy's Laboratories, incorporated in the year 1984, is a Large Cap company (having a market cap of Rs 94235.44 Crore) operating in Pharmaceuticals sector.

The Group's valuation hit Rs 50,000 crore in February 2020. This shows 2x growth in market capitalisation in the past three years - driven by robust financial performance, sustained growth trajectory and expansions in business and new geographies, market insiders believed

The record-breaking achievements of Bharat Electronics, Axis Bank, and other Nifty Largecap stocks on August 24 signify their outstanding market performance and growth prospects.

Several stocks such as Titan Company, Dr Reddy's Laboratories, Tata Motors, JSW Steel and NTPC have reached their 52-week highs as Nifty breached the 19,000 mark. Dr Reddy's Laboratories has impressed investors with its stock price reaching Rs 5,119.40 and a PE ratio of 18.9. Titan Company's expertise in luxury goods has driven its stock price to Rs 3,044.40 with a high PE ratio of 82.8. Tata Motors and JSW Steel also experienced significant surges, while NTPC offers value proposition for investors. This surge reflects the positive sentiment in the market.

Dr. Reddy’s rituximab biosimilar has already been approved for marketing in India and over 25 emerging markets.

In a remarkable display of upward momentum, several stocks within the BSE 200 Index reached new 52-week highs on August 18.

Several stocks in the Nifty100 index hit new 52-week highs, including Dr Reddy's Laboratories, InterGlobe Aviation, Torrent Pharma, and Muthoot Finance, signaling strong market optimism and investor confidence. Dr Reddy's Laboratories achieved an impressive 52-week high of Rs 5,086.60, while InterGlobe Aviation reached a high of Rs 2,544.50. Torrent Pharma experienced a significant boost as its stock soared to a new 52-week high of Rs 1,893, and Muthoot Finance reached Rs 1,242.80. These achievements demonstrate the companies' resilience and robust growth prospects, reflecting the overall bullish sentiment in the market.

India's Aurobindo Pharma has announced that its subsidiary Eugia Pharma Specialities has signed a voluntary sub-licensing agreement with Medicines Patent Pool to develop and market an anti-cancer drug- Nilotinib capsules. Nilotinib capsules are used for the treatment of chronic myeloid leukemia.

Dr. Reddy's Laboratories, incorporated in the year 1984, is a Large Cap company (having a market cap of Rs 97945.46 Crore) operating in Pharmaceuticals sector.

Dr Reddy's aims to roll out its trade generics across cities and towns in India, including rural areas. The company said it will work closely with its channel partners to ensure the availability of its products.

The new business will further the company’s goal of reaching more than 1.5 billion patients by 2030, the Hyderabad-based firm has said