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.
Shares of Dr Reddy s Laboratories (DRL) shed almost 7 percent in trade on Monday after the US Food and Drug Administration (USFDA) issued three observations for the company s Telangana plant.
Despite an over 86 percent gain in the stock in 2023 YTD, domestic brokerage house Investec sees pharma firm Orchid Pharma (ORCD) rising another 23 percent in the next 12 months. The brokerage has initiated coverage on the stock with a ‘buy’ call and a target price of ₹800.
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