Dr Reddy's Intraday Buy Call
Technical analyst Simi Bhaumik has maintained 'hold' rating on Dr Reddy`S Laboratories Limited stock with an intra-day target of Rs 1666.
According to analyst, the investors can buy the stock with stop loss of Rs 1618.
The stock of the company, on April 13, closed at Rs 1632.45 on the Bombay Stock Exchange (BSE).
Current EPS & P/E ratio stood at 47.97 and 34.29 respectively.
The share price has seen a 52-week high of Rs 1855 and a low of Rs 1161.10 on BSE.
Hyderabad-based Dr. Reddy's Laboratories announced that it had made entry into the $452 million Fexofenadine market with the introduction of its OTC fexofenadine hydrochloride pills.
Marketed by drug manufacturers under brands including Telfast, Allegra, fexofenadine, Allerfexo, Fastofen, Vifas, Tilfur, Telfexo is an antihistamine medication utilized for curing hayfever and related allergy indications.
Country's second biggest pharmaceutical company after Ranbaxy, Dr Reddy's, stated that the USFDA had sanctioned Dr Reddy's ANDA for Fexofenadine HCl pills on 12 April 2011.
Dr Reddy's will sell the medication under store brand labels in the United States.
On April 13, Dr Reddy's Laboratories announced that it will officially kick off its new plants in Cambridge this week.