Dr Reddys out of Sensex pack; Tata Motors is new entrant - Check full list of 30 companies | Sensex Reshuffle December 2022
Dr Reddys Lab Share Price: Zee Business panellist and market expert Jay Thakkar said that Dr Reddys shares are trading in a range from Rs 4650 to Rs 3750. He, however, said that the range is contracting gradually and trading between Rs 4250 and Rs 4650.
Dr Reddy’s Lab Share Price: Pharmaceutical Company Dr Reddy’s Laboratories climbed around 2 per cent today, December 19, as it traded for the first time out of the benchmark equity index Sensex. It has been replaced by the behemoth Tata Group company Tata Motors.
Dr Reddy’s opened Rs 4,344.95 apiece, up 0.8 per cent from Friday’s close of Rs 4309.10 on BSE. The strong buying in the counter lifted the counter to hit day's high of Rs 4401, jumping more than 2 per cent. On NSE, the stock traded at Rs 4394 at 1 PM.
Zee Business panellist and market expert Jay Thakkar said that Dr Reddy’s shares are trading in a range from Rs 4650 to Rs 3750. He, however, said that the range is contracting gradually and trading between Rs 4250 and Rs 4650.
He said that the short term target would be Rs 4450 while one should keep a stop loss at Rs 4050. If there is breakout above upper end of the range, the rally will be extended.
The stock's 52-week range is Rs 4,931.05 - Rs 3,654 apiece. Year to Date (YTD) the stock has declined more than 10 per cent but has surged over 4 per cent in the past six months.
Meanwhile, the company said that its tocilizumab biosimilar candidate -- DRL_TC has completed its primary and secondary endpoints in a Phase 1 study. Tocilizumab is an anti-rheumatic agent used in the treatment of adult with rheumatoid arthritis.
The recent reshuffle in the Sensex 30-pack is a part of the periodic reshuffle done in the index. The reshuffle happens twice a year -- June and December. It is based on a float-adjusted market cap weighted methodology.
Sensex companies full list:-
Asian Paints; Axis Bank; Bajaj Finance; Bajaj Finserv; Tata Motors; Bharti Airtel; HCL Technologies; HDFC Bank; Hindustan Unilever; Housing Development Finance Corp (HDFC); ICICI Bank; IndusInd Bank; Infosys; ITC; Kotak Mahindra Bank; Larsen & Toubro; Mahindra & Mahindra; Maruti Suzuki India; Nestle India; NTPC; Power Grid; Reliance Industries; State Bank of India; Sun Pharma; Tata Consultancy Services; Tata Steel; Tech Mahindra; Titan; UltraTech and Wipro.
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