Daily trend of Dr. Reddy’s Laboratories is bullish to sideways. RSI for monthly is showing bullish momentum. Based on option chain analysis, the range is between 5800 and 6000. Let’s plan a trade around this.
Hot stocks today: Benchmark indices rose in early trade on Thursday in-line amid muted trend in the global markets. Adani Ports, RVNL, Titan Company, Raymond among hot stocks on May 11, 2023.
Dr Reddy s share prices tanked more than 6% today after the company s Q4 numbers estimates. Watch this Visual Story to see what investors should do with the stock.
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NEW DELHI: India s approval to Russian Covid vaccine Sputnik V for emergency use sent Dr Reddy’s Labs soaring on Monday. But the stock saw profit booking on Tuesday and was trading 4 per cent lower in an otherwise positive session for Dalal Street.
Analysts said Dr Reddy’s Labs has exclusive distribution rights for the first 250 million doses in India. But there has been a lack of clarity on the agreement between Russian Direct Investment Fund (RDIF) and Dr Reddy s Labs (
DRL) and also on pricing.
The Government of India has been the sole buyer in Covid vaccine procurement, with Covishield and Covaxin doses being bought at Rs 150 a dose.