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    Buy Dr. Reddy's Laboratories, target price Rs 4980: ICICI Securities

    Synopsis

    Promoters held 26.7 per cent stake in the company as of 31-Mar-2023, while FIIs owned 27.25 per cent, DIIs 23.03 per cent.

    ​Dr Reddy's LaboratoriesAgencies
    Dr. Reddy's Laboratories, incorporated in the year 1984, is a Large Cap company (having a market cap of Rs 80034.96 Crore) operating in Pharmaceuticals sector.
    ICICI Securities has buy call on Dr. Reddy's Laboratories with a target price of Rs 4980. The current market price of Dr. Reddy's Laboratories is Rs 4765.05. ICICI Securities recommended to keep stop loss at Rs 4685.

    Dr. Reddy's Laboratories, incorporated in the year 1984, is a Large Cap company (having a market cap of Rs 80034.96 Crore) operating in Pharmaceuticals sector.

    Dr. Reddy's Laboratories key Products/Revenue Segments include Pharmaceuticals, Licence Fees, Other Operating Revenue, Spent Chemicals, Service Income and Scrap for the year ending 31-Mar-2022.

    Financials
    For the quarter ended 31-12-2022, the company has reported a Consolidated Total Income of Rs 6848.50 Crore, up 7.47 % from last quarter Total Income of Rs 6372.60 Crore and up 26.96 % from last year same quarter Total Income of Rs 5394.10 Crore. Company has reported net profit after tax of Rs 1237.90 Crore in latest quarter.

    The company’s top management includes Mr.K Satish Reddy, Mr.G V Prasad, Mr.Leo Puri, Mr.Prasad R Menon, Ms.Shikha Sharma, Mr.Allan Oberman, Ms.Kalpana Morparia, Mr.Sridar Iyengar, Mr.Arun Madhavan Kumar. Company has S R Batliboi & Associates LLP as its auditors. As on 31-03-2023, the company has a total of 17 Crore shares outstanding.

    Investment Rationale
    Stock extending up move after recent breakout above 15 months triangular consolidation pattern.

    Promoter/FII Holdings
    Promoters held 26.7 per cent stake in the company as of 31-Mar-2023, while FIIs owned 27.25 per cent, DIIs 23.03 per cent.



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    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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