Dr. Reddy's Laboratories lost 1% to Rs 1,900.45 at 11:07 IST on BSE, with the stock sliding on profit booking after Tuesday's 3.56% gains.
Meanwhile, the S&P BSE Sensex was up 61.31 points or 0.33% at 18,806.24.
On BSE, 3,809 shares were traded in the counter as against average daily volume of 24,509 shares in the past one quarter.
The stock hit a high of Rs 1,925.30 and a low of Rs 1,899.20 so far during the day. The stock had hit a 52-week low of Rs 1,528 on 19 June 2012. The stock had hit a record high of Rs 1,968.60 on 25 January 2013.
The stock had outperformed the market over the past one month till 16 April 2013, surging 5.27% compared with the Sensex's 3.51% fall. The scrip had also outperformed the market in past one quarter, declining 0.34% as against Sensex's 5.41% fall.
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The large-cap company has equity capital of Rs 84.91 crore. Face value per share is Rs 5.
Shares of Dr. Reddy's Laboratories had risen 3.56% to settle at Rs 1,919.55 on Tuesday, 16 April 2013.
Dr. Reddy's Laboratories on 9 April 2013 announced its plans to relocate its North America Headquarters and establish a R&D Center in Princeton, New Jersey.
Dr. Reddy's Laboratories' consolidated net profit declined 29.2% to Rs 363.31 crore on 3.5% growth in net sales to Rs 2865.16 crore in Q3 December 2012 over Q3 December 2011. The company announces FY 2013 results on 14 May 2013.
Dr. Reddy's Laboratories is an integrated global pharmaceutical company. Through its three businesses -- Pharmaceutical Services and Active Ingredients, Global Generics and Proprietary Products -- Dr. Reddy's offers a portfolio of products and services including APIs, custom pharmaceutical services, generics, biosimilars, differentiated formulations and NCEs. Therapeutic focus is on gastro-intestinal, cardiovascular, diabetology, oncology, pain management, anti-infective and pediatrics. The company's major markets include India, USA, Russia and CIS, Germany, UK, Venezuela, S. Africa, Romania, and New Zealand.
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