The company told exchanges said it Establishment Inspection Report from the US FDA for its unit in Hyderabad, indicating closure of the audit.
Dr Reddy's Laboratories share price gained a percent on May 20 ahead of the company's March quarter numbers.
The company told the exchanges said it received the Establishment Inspection Report (EIR) from US Food and Drug Administration (FDA), for its formulations manufacturing plant in Hyderabad's Bachupally, indicating closure of the audit.
The stock price has gained over 50 percent in the last nine months and was quoting at Rs 3,769, up Rs 69.45, or 1.88 percent. It has touched an intraday high of Rs 3,782.25 and an intraday low of Rs 3,705.
The company will release its March quarter earnings later in the day and is expected to clock healthy year-on-year growth, said brokerages.
Apart from the numbers, investors will keep a close eye on any update on ANDA filings/launches over the next 12–15 months.
Moreover, an update on Nuvaring, Copaxone approval, commentary on cost optimisation and timelines for Wockhardt portfolio acquisition would also be in the focus, experts said.
Brokerage firm Motilal Oswal Financial Services expects a 16.4 percent year-on-year (YoY) rise in the company's sales to Rs 4,465.6 crore for Q4FY20.
Brokerage firm Kotak Institutional Equities expects US business to bounce back to $235 million (up $13 million QoQ), given the benefit of recent launches.
"We forecast 12 percent YoY growth for India, while we expect Russia/CIS to decline 5 percent YoY, given RUB depreciation. We expect RoW to grow at 13 percent YoY and expect the EU to grow 24 percent YoY. We expect PSAI business to grow 8 percent YoY," Kotak said.
According to Moneycontrol SWOT Analysis powered by Trendlyne, Dr Reddy's Labs has zero promoter pledge with low debt. The technical chart shows Bullish Harami (Bullish Reversal) pattern with FII/FPI or institutions increasing their shareholding.
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