 "Dr Reddy's Lab at new high ahead of Q2 earnings")
Dr Reddy’s Laboratories has moved higher by over 4% at Rs 2,537, also its record high on the NSE, ahead of July-September quarter (Q2) earnings tomorrow.
The stock opened at Rs 2,436 and hit a low of Rs 2,434 in early morning deals on NSE. A combined around 350,000 shares have changed hands on the counter till 1350 hours on NSE and BSE.
The pharmaceutical company is expected to register year-on-year (yoy) revenue growth of 15% to end the period at Rs 3,313 crore. The net profit is expected to increase by 8.3% yoy in 2QFY2014 to end the period at Rs 498 crore.
Analyst at Edelweiss Securities expect key approvals and niche launches like Aricept (23mg), Lamotrigine, Dacogen, Depakote ER to scale up US business.
The company’s revenue growth will be around 15 % YoY. US market generics (30%YoY) will be the main driver of growth. While Europe and Russia region will show growth of 16% YoY and 15% respectively, says analyst at Karvy Stock Broking in a report.
Meanwhile, the stock has outperformed the market by surging 17% in past three months compared to 8.8% rise in benchmark CNX Nifty and 7.6% gain in CNX Pharma.
The stock opened at Rs 2,436 and hit a low of Rs 2,434 in early morning deals on NSE. A combined around 350,000 shares have changed hands on the counter till 1350 hours on NSE and BSE.
The pharmaceutical company is expected to register year-on-year (yoy) revenue growth of 15% to end the period at Rs 3,313 crore. The net profit is expected to increase by 8.3% yoy in 2QFY2014 to end the period at Rs 498 crore.
Analyst at Edelweiss Securities expect key approvals and niche launches like Aricept (23mg), Lamotrigine, Dacogen, Depakote ER to scale up US business.
The company’s revenue growth will be around 15 % YoY. US market generics (30%YoY) will be the main driver of growth. While Europe and Russia region will show growth of 16% YoY and 15% respectively, says analyst at Karvy Stock Broking in a report.
Meanwhile, the stock has outperformed the market by surging 17% in past three months compared to 8.8% rise in benchmark CNX Nifty and 7.6% gain in CNX Pharma.