Buy Dr Reddy’s With Stop Loss Of Rs 1400

Buy Dr Reddy’s With Stop Loss Of Rs 1400Stock market analyst Anil Singhvi has maintained 'buy' rating on Dr Reddy`S Laboratories Ltd stock with target of Rs 1450.

According to Singhvi, the investors can buy the stock with stop loss of Rs 1400.

The stock of the company, on June 16, closed at Rs 1414 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 1515 and a low of Rs 715 on BSE.

Current EPS & P/E ratio stood at 47.96 and 29.57 respectively.

Pharmaceutical major Dr Reddy's Lab Ltd will have wait more to sell its limited-competition generic Allegra in the United States.

New Jersey's district court has given an interim injunction on Dr Reddy's product in reaction to a motion moved by Allegra's innovator Sanofi Aventis and Albany Molecular.

With the interim injunction, Dr Reddy's will have to hold its plans to roll out the drug in the US market.

Allegra-D 24 Hour is prescribed for the treatment for sneezing, cough, runny or stuffy nose, itchy or watery eyes, hives, skin rash, itching, and other symptoms of allergies and the common cold.

India's Dr Reddy's Laboratories on June 09 bagged tentative nod from U. S. regulators to roll out the generic edition of AstraZeneca's Accolate, which is used to treat asthma.

At present, Dr Reddy's is working on manufacturing plans for zafirlukast (Accolate's generic name), and will settled the time of its launching after receiving the final nod from the USFDA.

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