Buy Dr. Reddy's Laboratories, target price Rs 4420: Kotak Securities

Kotak Securities has buy call on Dr. Reddy's Laboratories with a target price of Rs 4420. The current market price of Dr. Reddy's Laboratories is Rs 4287. Time period given by analyst is Intra Day when Dr. Reddy's Laboratories Ltd. price can reach defined target.

Dr. Reddy's Laboratories Ltd., incorporated in the year 1984, is a Large Cap company (having a market cap of Rs 71355.08 Crore) operating in Pharmaceuticals sector.

Dr. Reddy's Laboratories Ltd. key Products/Revenue Segments include Pharmaceuticals, Licence Fees, Other Operating Revenue, Spent Chemicals, Service Income and Scrap for the year ending 31-Mar-2021.



Financials
For the quarter ended 31-03-2022, the company reported a Consolidated Total Income of Rs 5596.80 Crore, up 3.76 % from last quarter Total Income of Rs 5394.10 Crore and up 15.38 % from last year same quarter Total Income of Rs 4850.80 Crore. Company reported net profit after tax of Rs 86.50 Crore in latest quarter.

Investment Rationale
Trading in a triangle formation near short-term moving averages. Breakout possible in near term.

Promoter/FII Holdings
Promoters held 26.72 per cent stake in the company as of 31-Mar-2022, while FIIs owned 25.16 per cent, DIIs 24.79 per cent.