Moneycontrol PRO
Upcoming Webinar:Watch a panel of experts discuss: Challenges of continuously evolving regulation for Cryptocurrency, on 7th July at 3pm. Register Now

Buy Dr Reddy's Laboratories; target of Rs 4960: ICICI Direct

ICICI Direct is bullish on Dr Reddy's Laboratories has recommended buy rating on the stock with a target price of Rs 4960 in its research report dated June 22, 2022.

June 22, 2022 / 01:56 PM IST
  • bselive
  • nselive
Todays L/H

ICICI Direct's research report on Dr Reddy's Laboratories

Dr Reddy’s is embarking on the next phase of its strategy in alignment with changing dynamics of industry, emerging opportunities. The goal is to leverage Horizon 1 business growth levers and drive productivity to invest in Horizon 2 businesses • Horizon 1 will be core driver in the short to medium term mainly comprising 1) Generics, 2) API, 3) Branded Generics, 4) OTC and 5) Biosimilars • Horizon 2 is earmarked for long term mainly comprising 1) ImmunoOncology NCEs, 2) Biologics & CGT, 3) Nutraceuticals, 4) CDMO (small and large molecules), 5) Disease management, 6) D2C and 7) Digital services • The company aspires to 1) maintain double digit sales growth, 2) 25%.


We maintain BUY as the so called transition to Horizon-2, although directional, provides well thought out strategy for the next five years. We value Dr Reddy’s at Rs 4960 i.e. 22x FY24E EPS of Rs 218 + NPV of Rs 163.4 for gRevlimid.

More Info


At 13:11 hrs Dr Reddys Laboratories was quoting at Rs 4,230.00, down Rs 41.05, or 0.96 percent.

It has touched an intraday high of Rs 4,345.85 and an intraday low of Rs 4,164.00.

It was trading with volumes of 13,857 shares, compared to its thirty day average of 17,478 shares, a decrease of -20.72 percent.

In the previous trading session, the share closed up 2.84 percent or Rs 118.15 at Rs 4,271.05.

The share touched its 52-week high Rs 5,613.65 and 52-week low Rs 3,655.00 on 07 July, 2021 and 04 March, 2022, respectively.

Currently, it is trading 24.65 percent below its 52-week high and 15.73 percent above its 52-week low.

Market capitalisation stands at Rs 70,398.13 crore.

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on are their own, and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.

Broker Research
first published: Jun 22, 2022 01:56 pm
ISO 27001 - BSI Assurance Mark