Dr Reddy s shares have slightly underperformed the Nifty Pharma index, giving returns of nearly 22% over the last 12 months versus 25% given by the latter. However, stock s returns in 2023 are a percentage point better than the Nifty Pharma Index. Meanwhile, broader Nifty50 has given over 13% and 15% returns in the last 12 months and year-to-date, respectively.