US-based law firms have threatened a class action suit against the Indian pharma major, Dr. Reddy’s Laboratories for non-disclosure of quality-related lapses at its Indian facilities, reported a leading business daily.
Earlier, the German regulatory authority had revoked GMP (good manufacturing practices) clearance in respect of the company’s formulations manufacturing Unit 2 plant in Hyderabad.
Meanwhile, the stock traded marginally in positive territory gaining 0.49% at Rs 2,020.95 per share. The stock on NSE attracted a traded volume of 1,64,458 shares and a traded value of 3280.59 lakh.
The company has been maintaining a dividend payout of 18.93%. The company has delivered a growth of 7.37% over the past five years.
The stock on a yearly basis has lost 32.49% returns and has underperformed BSE Sensex index and BSE Healthcare index.
Stock view:
Dr Reddys Laboratories Ltd is currently trading at Rs 1994, down by Rs 17.35 or 0.86% from its previous closing of Rs 2011.35 on the BSE.
The scrip opened at Rs 2000 and has touched a high and low of Rs 2038.8 and Rs 1972.05 respectively. So far 358204(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 33352.35 crore.
The BSE group 'A' stock of face value Rs 5 has touched a 52 week high of Rs 3394.95 on 28-Oct-2016 and a 52 week low of Rs 1901.65 on 11-Aug-2017.
Last one week high and low of the scrip stood at Rs 2260 and Rs 1901.65 respectively.
The promoters holding in the company stood at 26.78 % while Institutions and Non-Institutions held 43.38 % and 29.84 % respectively.
The stock is currently trading below its 200 DMA.
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