Dr Reddy’s share price jumps 4% on Nuvama’s upgrade to buy; brokerage sees potential despite risks from Revlimid expiry
1 day, 4 hours ago

Dr Reddy’s share price jumps 4% on Nuvama’s upgrade to buy; brokerage sees potential despite risks from Revlimid expiry

Live Mint  

Dr Reddy's share price jumped almost 4% during Wednesday’s trading session after Nuvama Institutional Equities, a brokerage firm, raised its rating on the stock from ‘Reduce’ to ‘Buy,’ setting a target price of ₹1,553. The brokerage noted that the expiration of the Revlimid patent in 2026 presents a considerable risk to Dr Reddy's earnings growth, as the medication accounts for approximately 40% of its FY24 EBITDA. Dr Reddy's share price today On Wednesday, Dr Reddy's share price opened at ₹1,370.90 apiece on the BSE, the stock touched an intraday high of ₹1,404.60 per share and an intraday low of ₹1,361.55 apiece. Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One, said that Dr Reddy's share prices witnessed a sharp move during the opening hour as, after a gap up, prices went on to test beyond 1,400 levels.

History of this topic

Stocks to buy: Raja Venkatraman recommends three stocks for today — 2 January
1 week ago
Buy or sell: Sumeet Bagadia recommends three stocks to buy on Monday — 23 December 2024
2 weeks, 5 days ago
Stocks to buy: Raja Venkatraman recommends three stocks for today—10 December
4 weeks, 2 days ago
Tata Motors Share Price Today on 29-11-2024: Tata Motors share price are up by 0.44%, Nifty up by 0.71%
1 month, 1 week ago
Paytm Share Price Today on 27-11-2024: Paytm share price are up by 2.12%, Nifty down by -0.02%
1 month, 1 week ago
Paytm Share Price Today on 26-11-2024: Paytm share price are up by 0.54%, Nifty down by -0.08%
Top News
1 month, 2 weeks ago
Paytm Share Price Today on 25-11-2024: Paytm share price are down by -0.81%, Nifty up by 1.68%
1 month, 2 weeks ago
Paytm Share Price Today on 22-11-2024: Paytm share price are up by 5.78%, Nifty up by 1.28%
1 month, 2 weeks ago
Paytm Share Price Today on 11-11-2024: Paytm share price are down by -3.3%, Nifty down by -0.03%
1 month, 4 weeks ago
Tata Motors Share Price Today on 11-11-2024: Tata Motors share price are down by -0.12%, Nifty down by -0.03%
1 month, 4 weeks ago
Tata Motors Share Price Today on 08-11-2024: Tata Motors share price are down by -1.72%, Nifty down by -0.21%
2 months ago
Paytm Stock Price Today: Up 2.85%, Nifty Down 0.35%
Trending News
2 months, 1 week ago
Paytm Stock Price Today: Up 1.36%, Nifty Down by -0.09%
2 months, 1 week ago
Tata Motors Share Price Today: A Downward Trend with Technical and Fundamental Analysis Insights
Trending News
2 months, 1 week ago
IndiaMART InterMESH shares drop over 8% on lower subscriber additions in Q1FY25
5 months, 1 week ago
Paytm share price jumps 5% after hitting upper circuits for 2 days in a row; can it rise more? Here’s what experts say
9 months, 2 weeks ago
Dr Reddy’s share price down 1% ahead of Q4FY23 results; check details
1 year, 7 months ago
Pharma stock down 25% from highs. Brokerages have ’Buy’ tag
2 years, 6 months ago
Dr Reddy Share Price Live: As Finance Minister Presents Union Budget 2019, Dr Reddy Shares Rise by 0.33%
5 years, 6 months ago

Discover Related