Moneycontrol PRO

Buy Dr. Reddy’s Laboratories; target of Rs 5550: Sharekhan

Sharekhan is bullish on Dr. Reddy’s Laboratories has recommended buy rating on the stock with a target price of Rs 5550 in its research report dated June 22, 2022.

June 23, 2022 / 11:43 AM IST
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Sharekhan's research report on Dr. Reddy’s Laboratories


In its investor’s day, DRL has unveiled its two-pronged growth strategy across its business which could propel the growth. In the short to medium term DRL intends to focus on existing business/products lines while over the long-term new areas such as differentiated formulations, CDMO and Biologics would be the focus area. Basis the growth strategy unveiled DRL has guided for a double digit revenue growth and EBITDA margins at 25% over the medium term. Near-term challenges in the form of elevated cost pressures, demand volatility, price erosion and geo-political issues could affect the performance, though DRL’s long-term growth levers are intact.



Outlook


We retain our Buy recommendation on the stock with an unchanged PT of Rs. 5,550.

Close

More Info

At 11:37 hrs Dr Reddys Laboratories was quoting at Rs 4,284.15, up Rs 33.55, or 0.79 percent.

It has touched an intraday high of Rs 4,304.60 and an intraday low of Rs 4,258.10.

It was trading with volumes of 3,103 shares, compared to its thirty day average of 18,153 shares, a decrease of -82.91 percent.

In the previous trading session, the share closed down 0.48 percent or Rs 20.45 at Rs 4,250.60.

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 23.68 percent below its 52-week high and 17.21 percent above its 52-week low.

Market capitalisation stands at Rs 71,299.33 crore.

For all recommendations report, click here

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

Broker Research
first published: Jun 23, 2022 11:43 am
Sections
ISO 27001 - BSI Assurance Mark