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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.
Dr Reddy s strong product pipeline and other factors that make it stock pick of the week
Synopsis
DRL continues to generate free cash flows (FCFs) due to strongholds in some legacy drugs. Its lower valuation compared to its peers and strong balance sheet, are the other factors that have made the company a favourite of analysts.
Dr Reddy’s Lab (DRL) has reported a decent set of numbers for the third quarter of 2020-21. Its aggregate revenue grew 12% y-o-y; with domestic, US and Europe revenues growing by 26%, 9% and 34% respectively. However, these numbers were lower than the street expectations which led to its share price fall. Analysts say that this lower price is offering a good entry point to this counter.
DRL continues to generate free cash flows (FCFs) due to strongholds in some legacy drugs. Its lower valuation compared to its peers and strong balance sheet, are the other factors that have made the company a favourite of analysts.
Dr. Reddy’s Laboratories has unveiled Capecitabine Tablets, USP in the U.S market. The drug is a therapeutic equivalent generic version of Xeloda (capecitabine) Tablets, used in the treatment of certa
Renault launches SUV Kiger at ₹5.45 lakh in India: Details here
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Renault has finally launched the new Kiger in India. The SUV steps into an extremely competitive segment and the ace under the company’s sleeve is the price of the car. The new sub-4m SUV will be going against the likes for Hyundai Venue, Nissan Magnite, Kia Sonet, Mahindra XUV 300 and Maruti Suzuki Vitara Brezza.
The new Renault Kiger will start at a price of ₹5.45 lakh (ex-showroom) for the base variant. The top variant with all the bells and whistles is priced at ₹9.55 lakh (ex-showroom). In terms of overall cost, the SUV is priced similar to the SUV from its sister brand, Nissan Magnite.