Buy Dr. Reddy's Laboratories, target price Rs 4870: Kotak Securities

Kotak Securities has buy call on Dr. Reddy's Laboratories Ltd. with a target price of Rs 4870. The current market price of Dr. Reddy's Laboratories is Rs 4726.15. 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 78690.00 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 30-09-2021, the company reported a Consolidated Total Income of Rs 5992.40 Crore, up 18.59 % from last quarter Total Income of Rs 5053.00 Crore and up 20.76 % from last year same quarter Total Income of Rs 4962.10 Crore. Company reported net profit after tax of Rs 971.10 Crore in latest quarter.

Investment Rationale
Reversed sharply after forming the Hammer candlestick pattern near the important retracement zone

Promoter/FII Holdings
Promoters held 26.72 per cent stake in the company as of 30-Sep-2021, while FIIs owned 27.76 per cent, DIIs 21.4 per cent.