Dr Reddy's extends fall on disappointing Q1; stock down 14% in 2 days

The stock of the pharmaceutical company was trading at its lowest level since April 9, 2021

Shares of Dr Reddy's Laboratories extended their decline into second straight day, falling 14 per cent in two days, after the company reported the disappointing results for the quarter ended June 2021 (Q1FY22). The stock hit a three-month low of Rs 4,667, down 4 per cent on the BSE in the intra-day trade on Wednesday, and was trading at its lowest level since April 9, 2021.

With the two days' decline, it has slipped 17 per cent from its 52-week high level of Rs 5,614, touched on July 7, 2021.

Dr Reddy’s reported a weak result on the margins