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Dr. Reddy’s Laboratories Ltd., one of India’s largest drug firms, is the nation’s worst-performing stock in July on disappointing earnings and a U.S. probe. But one technical indicator suggests the shares could be due a snap back. The stock’s relative strength index has dropped to a level indicating the shares are oversold. When that’s happened over the past five years, shares of the Hyderabad-based company have rallied about 15% on average in the 20 subsequent trading sessions, according to data compiled by Bloomberg. Bloomberg Dr. Reddy’s earnings trailed estimates and the company has disclosed that it’s responding to a subpoena from the U.S. Securities & Exchange Commission. Jefferies India Pvt. analyst Abhishek Sharma, who rates the stock a buy, said in a note the SEC probe “could be material” if it leads to an adverse finding, but shouldn’t affect “our thesis on the company.”

Andhra pradeshAbhishek sharmaUs securities exchange commissionReddy laboratories ltdLaboratories ltdJefferies indiaஆந்திரா பிரதேஷ்அபிஷேக் ஷர்மாஎங்களுக்கு பத்திரங்கள் பரிமாற்றம் தரகுசிவப்பு ஆய்வகங்கள் லிமிடெட்ஆய்வகங்கள் லிமிடெட்ஜெஃப்பெரிஸ் இந்தியா