Dr Reddy's Labs nears 2-year high, regains Rs 50,000 crore m-cap

Shares of Dr Reddy’s Laboratories gained 4 per cent to Rs 3,049 apiece on the BSE  on Friday, thus hitting an over 23-month high and helping the company regain the Rs 50,000 crore market valuation mark.

In the first 11 trading days of the current calendar year, Dr Reddy’s has outperformed the market by surging 6 per cent on expectations of earnings improvement going forward. In comparison, the S&P BSE Sensex has gained 2 per cent during the same period. The stock of pharmaceutical company was trading at its highest level since February 9, 2017.

At close, Dr