Moneycontrol

Budget 2021

Associate Partners:

  • SMC
  • Samsung
  • Volvo

Moneycontrol

Budget 2021

Associate Partners:

  • SMCSamsungVolvo
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Buy Dr Reddy’s Laboratories: target of Rs 6500: Sharekhan

Sharekhan is bullish on Dr Reddy’s Laboratories has recommended buy rating on the stock with a target price of Rs 6500 in its research report dated January 12, 2021.

January 14, 2021 / 09:04 PM IST
 
 
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Sharekhan's research report on Dr Reddy’s Laboratories


Growth prospects are improving across most geographies. Business traction, sturdy product pipeline and easing of pricing pressures to drive US sales. A likely improvement in the acquired portfolio and COVID-led growth opportunities in the near term would drive India performance. The Sputnik-V Vaccine, if approved to unlock sizeable growth opportunity. Improving growth prospects, healthy balance sheet and strong return ratios could support P/E multiple expansion. DRL’s sales and PAT expected to clock a 15% and 27% CAGR over FY2020-FY2023.


Outlook


We retain Buy Recommendation on Dr Reddy’s Laboratories Limited (DRL) with a PT of Rs 6,500.


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: Jan 13, 2021 01:01 pm

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