/ Ways2Capital : Dr. Reddy’s Labs Extends Losses, Stock Hits 52-Week Low ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Tuesday, 21 March 2017

Dr. Reddy’s Laboratories is sliding down for the third straight session and on Tuesday’s trading session it is down by 5% hitting its 52-week low of Rs 2602 on the BSE.

The pharma major is making strategic shift in the US by disposing a more balanced portfolio including mix of complex generic and plain-vanilla generic products, as there are constant delays in complex generic launches, as per a note issued by HDFC Securities.

The brokerage firm said that, in the near future the clearance of Srikakulam and Duvvada facilities will be the main spark for re-rating. Soon after the announcement, the stock of the pharma company fell to its 52-week low. In the past quarter it has dropped over 13%.The stock in a period of one year has underperformed the BSE Sensex and BSE Healthcare indices.

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