Dr Reddy's hits 52-week low
DSIJ Intelligence / 21 Mar 2017
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Taking a plunge for the third time in a row, Dr. Reddy's Laboratories hit its 52-week low on Tuesday as the stock nosedived five per cent on BSE platform.
Taking a plunge for the third time in a row, Dr. Reddy's Laboratories hit its 52-week low on Tuesday as the stock nosedived five per cent on BSE platform.
Earlier a drop of 13 per cent in the stock prices of the company came in the wake of their strategic shift in the US market. The company disposed a more balanced portfolio of products with a mix of complex and plain-vanilla generic manufactures in its launches.
The stock has underperfomed the BSE Sensex and BSE Healthcare indices over the last one year.
Although, the clearance of Srikakulam and Duvvada facilities have had ripe hopes for the company.
At the time of filing this report, the stock was trading at Rs 2630, down by Rs 112.5 or 4.1 per cent on the bourses.
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