Short Term Buy Call For Dr Reddy's

Short Term Buy Call For Dr Reddy'sTechnical analyst Brijesh Singh of India Advantage has maintained 'buy' rating on Dr Reddy's Laboratories Limited stock with a short term target of Rs 1730.

According to analyst, the investors can buy the stock with a stop loss of Rs 1660

The stock of the company, on April 20, closed at Rs 1632.45 on the Bombay Stock Exchange (BSE).

Current EPS & P/E ratio stood at 47.97 and 34.71 respectively.

The share price has seen a 52-week high of Rs 1855 and a low of Rs 1161 on BSE.

Dr Reddy's Laboratories introduced over-the-counter Fexofenadine HCI tabs after getting nod from USFDA.

The pharma major will sell the tabs under store brand labels in the United States.

Fexofenadine HCI tabs had sales of about $452 million for the twelve month period ended December 31, 2010.

In addition, the company has lengthened its Custom Pharmaceutical Services biz in the United Kingdom by launching a novel, purpose-made Technology Centre for its Chirotech arm on the Cambridge Science Park.

Dr Reddy's got hold of Chirotech from Dow Chemical in the year 2008.

Mr. G V Prasad, vice-chairman and chief executive officer, stated, "The facility will be a centre of excellence for chemistry and reinforces our commitment to building a leading edge research organisation to meet the innovation needs of our customers."