Stocks in news: Lacklustre trade in Dr Reddy's stock ahead of Q2 results today; no fresh buying move, say analysts
Technical analyst Nilesh Jain suggests an avoid in this scrip citing that the stock has moved significantly in last few trading sessions
![Stocks in news: Lacklustre trade in Dr Reddy's stock ahead of Q2 results today; no fresh buying move, say analysts Stocks in news: Lacklustre trade in Dr Reddy's stock ahead of Q2 results today; no fresh buying move, say analysts](https://cdn.zeebiz.com/ads/placeholder_image-zeebiz.jpg)
Lacklustre trading was seen Dr Reddy's Laboratories shares ahead of its quarterly earnings announcements, later today. The stock was trading at Rs 4,475.10 on the NSE around 12:45 am and were down by Rs 16.10 or 0.36 per cent from the Thursday closing price, tracking movement of the pharma sector. Nifty Pharma was one of the top laggards today and was down 0.79 per cent around this time.
The stock has seen an upward move over the past four trading sessions.
The stock was trading with moderate volumes.
Source: NSE
According to street's estimates the Q2FY23 revenues are expected to come down 3 per cent at Rs 5587cr vs 5763cr reported during the corresponding quarter in the year ago period. The Net profit for the July-September quarter is seen going down 27 per cent at Rs 721 cr as against Rs 992 cr reported in Q2 of FY22.
EBITDA is seen at Rs 1219 cr vs 1336 cr, down 9 per cent YoY. Meanwhile, margins are also expected to see a percentage point fall to 22 per cent.
The domestic growth is expected to remain moderate. US business is expected to grow by 2 per cent YoY.
The stock has given 3,38 per cent returns over the last three months.
Analyst Sandeep Jain recommends a 'Hold' on Dr Reddy's shares calling it a good stock. The stock has gained over the past 4 trading sessions and hence no fresh buying position should be made, he said. His suggestion to investors is to wait for the results.
The Tradeswift Director is positive on the overall pharma sector calling it an underperformer amongst its peers.
Echoing a similar stance technical analyst Nilesh Jain suggests an avoid in this scrip. The Centrum Broking analyst said that the stock has moved significantly in last few trading sessions. He puts a stop loss at Rs 4330. The immediate target is Rs 4600 followed by Rs 4800. A breakout will come once it breaches Rs 4600 level, Jain said.
Also Read: SBI Cards shares see sharp slip after brokerages slash targets
(Disclaimer: The views/suggestions/advises expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
![https://www.zeebiz.com/personal-finance/photo-gallery-new-income-tax-bill-slabs-2025-calculator-tax-you-need-to-pay-on-inr-1287500-annual-income-calculations-latest-taxation-rules-rebate-standard-deduction-marginal-relief-taxable-budget-347038](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2025/02/13/353002-top7-hybrid-funds-in-10-years-2.jpg?itok=jVfAvaIS)
New Tax Regime Slabs: Is your annual salary Rs 12,87,500? Do you need to pay tax on Rs 12,500 or Rs 12,87,500? See calculations to know
![https://www.zeebiz.com/personal-finance/photo-gallery-sip-mutual-fund-lump-one-time-investments-for-retirement-corpus-planning-calculator-want-to-get-inr-rs-60000-per-month-income-at-60-years-of-age-know-your-deposit-financial-goal-346968](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2025/02/13/353003-top7-hybrid-funds-in-10-years-3.jpg?itok=5BjCdVVp)
SIP, One-time Investments for Retirement Planning: Want to get Rs 60,000 monthly income at 60? Know how much you need to invest if you are 25, 30, 35, or 40 years old?
![https://www.zeebiz.com/personal-finance/photo-gallery-8th-pay-commission-basic-monthly-salary-pension-slab-calculator-can-basic-pension-cross-inr-rs-300000-barrier-in-new-pay-scale-see-calculations-to-know-projected-fitment-factor-index-7th-pm-modi-old-346525](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2025/02/12/352430-note-coin-pixabay-take.jpg?itok=yDmxceKf)
8th Pay Commission: Can basic pension cross Rs 3 lakh mark in new pay commission? See calculations to know its possibility?
![https://www.zeebiz.com/personal-finance/photo-gallery-sbi-444-day-fd-vs-sbi-400-day-fd-which-can-give-you-higher-maturities-on-rs-2-lakh-4-lakh-and-6-lakh-investments-346909](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2025/02/13/352855-sbi-fd-2.png?itok=anQwE_Dj)
SBI 444-day FD vs SBI 400-day FD: Which can give you higher maturities on Rs 2 lakh, 4 lakh, and 6 lakh investments?
![https://www.zeebiz.com/personal-finance/photo-gallery-new-income-tax-bill-regime-slabs-old-existing-proposed-revised-calculator-what-will-be-your-tax-on-annual-income-salary-of-inr-rs-800000-1400000-2000000-2600000-nirmala-sitharaman-budget-2025-346889](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2025/02/13/352870-top7-hybrid-funds-in-10-years-1.jpg?itok=UqwoA5Li)
Income Tax Calculations: What will be your tax liability if your salary is Rs 8 lakh, Rs 14 lakh, Rs 20 lakh, and Rs 26 lakh?
![https://www.zeebiz.com/personal-finance/photo-gallery-dearness-relief-dr-pension-central-government-employee-calculator-calculations-is-your-basic-pension-rs-25000-35000-40000-50000-know-total-amount-AICPI-consumer-index-DA-benchmark-346424](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2025/02/12/352375-untitled-design.jpg?itok=1_intAoD)
Monthly Pension Calculations: Is your basic pension Rs 25,000, Rs 35,000, or Rs 50,000? Know what can be your total pension as per latest DR rates
01:15 PM IST