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Dr Reddy’s: COVID opportunity gets wings

Along with Sputnik V and 2-DG, Dr Reddys has further strengthened its COVID opportunity, which makes it a worthy watch

May 17, 2021 / 07:18 PM IST
Dr Reddy’s: COVID opportunity gets wings

NEGVAC has recommended COVID-19 vaccination for all lactating women | Representational image

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

Dr Reddy's Laboratories (CMP: Rs 5,197, Market Cap: Rs 86,424 crore) corrected sharply, post Q3 results on account of impairment charges. Post the correction, we found merit in Dr Reddy’s due to the emergence of relative value and vaccine opportunity – Sputnik V. The stock has moved up by 11 per cent since we picked it as a tactical opportunity, while the benchmark Nifty was flattish during the same period. Having said that, in recent times, the company has further...

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