Key Points
Mumbai: Shares of Dr Reddy's Laboratories tanked nearly 7% Thursday, its biggest single-day fall in two-and-a-half months, as analysts flagged concerns over future growth prospects despite a 10-fold growth in fourth quarter consolidated net profit and dividend to shareholders...
The Hyderabad-based pharma major was the biggest loser on the bourses with trading volume rising nearly 10 times after a majority of the analysts slashed their price targets..
The stock made an intraday low of 4,524.05 apiece in Thursday's trading before closing at 4,532, down 6.9%...
The US brokerage sees a 23% upside potential from current levels and remains the most optimistic on the stock even after lowering FY24 EPS by 5% owing to lower margins...
On Thursday, Dr Reddy's reported an 890% year-on-year growth in consolidated net profit for the fourth quarter at 960.1 crore, while revenue (from operations) grew 15.28% to 5,843 crore...
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