Dr. Reddy’s Laboratories Ltd., incorporated in the year 1984, is a Large Cap company (having a market cap of Rs 90353.12 Crore) operating in Pharmaceuticals sector.
Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 4850.80 Crore, down -3.22 % from last quarter Total Income of Rs 5012.40 Crore and up 7.26 % from last year same quarter Total Income of Rs 4522.50 Crore. Company reported net profit after tax of Rs 539.40 Crore in latest quarter.
Investment Rationale
The stock is on the verge of a breakout from a trendline resistance placed at Rs 5,495. A successful breakout on healthy volumes will extend the bounce Rs 5,700. RSI has also turned upwards from the key level of 60, confirming bullishness. Further, it took support at the cluster of its key short-term moving averages, which is a sign of bullishness.
Promoter/FII Holdings
Promoters held 26.7 per cent stake in the company as of March 31, 2021, while FIIs held 29 per cent, DIIs 14.3 per cent and public and others 30 per cent.
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