Sai Teja, the accused, fired two rounds on Nagendar Reddy near his house late last night, they said.
"Nagendar, who was hit with one bullet on his back was shifted to a hospital and his condition is stated to be stable," Assistant Commissioner of Police, Pet Basheerabad Division, Ashok Kumar said.
As per preliminary investigation there were multiple disputes including financial and real estate issues between the two which led to the attack on Reddy, he said adding teams have been formed to nab Teja.
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