Shares of Dr Reddy's Laboratories grew over 5% on Thurday with the stock trading at Rs 1212 apiece. The growth comes after the drug maker shared its Q3 earnings on Wednesday.
Dr Reddy's Laboratories on Wednesday said its consolidated profit declined 14% year-on-year to Rs 1,210 crore in the third quarter ended December 2025, hit by lower sales in the US market. The Hyderabad-based drug major posted a revenue increased to Rs 8,727 crore during the period under review as compared to Rs 8,357 crore in the third quarter of last fiscal.
The company continues to focus on disciplined execution of its strategic priorities of base business growth, pipeline advancement, operational efficiencies, and select inorganic opportunities, to create long-term value for our stakeholders, the drug maker said in a statement.
In a media call, the company executives stated it is looking to introduce generic version of diabetes and drug management medication semaglutide in India in March this year. The drug firm is preparing manufacturing capacity for up to 12 million injectable pens annually through channel partners. The company stated that it is preparing for a competitive pricing strategy aimed at boosting affordability.
Brokerages have cut target price for the company. Morgan Stanley has maintained its Equal-weight rating on Dr Reddy's Laboratories and has cut its target price to Rs 1,285 from Rs 1,389. The brokerage noted that the company delivered a resilient quarter, driven by strong ex-US growth led by India, Europe, and emerging markets.
Jefferies has maintained its Underperform rating and reduced the target price to Rs 1,040 from Rs 1,100. It described the quarter as broadly in line, with strong performance in India, emerging markets, and Europe, supported by favourable forex movements.
Bank of America has maintained its Buy rating on Dr Reddy's but cut the target price to Rs 1,480 from Rs 1,560. It said that the Q3 performance strengthens confidence in the company's base business.
Dr Reddy Share Price Today
Photo Credit: (Photo: NDTV Profit)
The scrip rose as much as 5.93% to Rs 1224.50 apiece on Tuesday. This compares to a 0.84% growth in the NSE Nifty 50 Index.
Total traded volume so far in the day stood at 1.32 times its 30-day average. The relative strength index was at 24.77.
Out of 40 analysts tracking the company, 16 maintain a 'buy' rating, 11 recommend a 'hold,' and 13 suggest 'sell,' according to Bloomberg data. The average 12-month consensus price target of Rs 1310.36 implies an upside of 8.2%.
ALSO READ: Stock Picks Today: Dalmia Bharat, Eternal, Tata Communications And More On Brokerages' Radar
Watch LIVE TV, Get Stock Market Updates, Top Business, IPO and Latest News on NDTV Profit.
