Go long on Dr Reddys Labs, may hit Rs 2220: ICICI Direct

Amit Gupta of ICICI Direct told CNBC TV-18, "Dr Reddys Laboratories hasn’t moved with the other pharma stocks when they were performing in the last couple of months. Now the money is very clearly flowing into the stock, it has made an all time high around Rs 2160. After the results it dipped to Rs 2030, but since then around 15 percent long addition has been seen in the stock and that is why I think there is a large possibility it will surpass Rs 2160 and meet Rs 2220 levels."

He further added, "It is better to play long in the stock right now and keep your stop loss around Rs 2030-2040. And the fresh buildup will possibly take it to further new highs."