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Dr Reddy’s Laboratories was on the radar of investors after a global brokerage house gave a positive view on the stock.
CLSA highlighted that with an improvement in US growth trajectory, risk-reward had turned favourable for the stock.
The global broking firm also observed that three products, Nuvaring, Suboxone & Copaxone will be major contributors over FY19-20. In fact, the EPS for FY20 could see an upside of 44 percent to Rs 210 if these products are introduced.
The stock was in the news on Wednesday morning as well after US FDA issued three observations to the company’s Mirfield plant in the UK.
The observations related to procedures not being established or followed, clean status not being established and manually managed materials being in the warehouse.
The stock has gained around 19 percent in the past one month, while its three-day gain stood at 4 percent.
At 12:28 hrs Dr Reddys Laboratories was quoting at Rs 2,300.00, up Rs 60.90, or 2.72 percent on the BSE. It touched an intraday high of Rs 2,305.00 and an intraday low of Rs 2,241.45.
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