Buy Dr. Reddy's Laboratories, target price Rs 4509: ICICI Direct
Dr. Reddy's Laboratories, incorporated in the year 1984, is a Large Cap company (having a market cap of Rs 74692.51 Crore) operating in Pharmaceuticals sector.
By ETMarkets.com | Updated:
Agencies
ICICI Direct has buy call on Dr. Reddy's Laboratories with a target price of Rs 4509. The current market price of Dr. Reddy's Laboratories is Rs 4492.8. ICICI Direct recommended to keep stop loss at Rs 4424. The time period recommended for the call is intraday.
Dr. Reddy's Laboratories, incorporated in the year 1984, is a Large Cap company (having a market cap of Rs 74692.51 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 31-12-2022, the company has a total of 17 Crore shares outstanding.
Buying demand emerging post a shallow retracement and a higher base above the 200 day EMA signaling positive bias.
Promoter/FII Holdings
Promoters held 26.7 per cent stake in the company as of 31-Dec-2022, while FIIs owned 27.29 per cent, DIIs 23.35 per cent.
Dr. Reddy's Laboratories, incorporated in the year 1984, is a Large Cap company (having a market cap of Rs 74692.51 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 31-12-2022, the company has a total of 17 Crore shares outstanding.
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Investment RationaleBuying demand emerging post a shallow retracement and a higher base above the 200 day EMA signaling positive bias.
Promoter/FII Holdings
Promoters held 26.7 per cent stake in the company as of 31-Dec-2022, while FIIs owned 27.29 per cent, DIIs 23.35 per cent.
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