Buy Dr. Reddyโ€™s Laboratories, target price Rs 6300: Yes Securities

Yes Securities has buy call on Dr. Reddy's Laboratories with a target price of Rs 6300.The current market price of Dr. Reddy's Laboratories is Rs 5939.4. Yes Securities recommended to keep stop loss at Rs 5730.
Dr. Reddy's Laboratories, incorporated in the year 1984, is a Large Cap company (having a market cap of Rs 97945.46 Crore) operating in Pharmaceuticals sector. Dr. Reddy's Laboratories key Products/Revenue Segments include Pharmaceuticals, Licence Fees, Other Operating Revenue, Spent Chemicals, Service Income and Scrap for the year ending 31-Mar-2022.

Financials
For the quarter ended 30-06-2023, the company has reported a Consolidated Total Income of Rs 6931.90 Crore, up 7.41 % from last quarter Total Income of Rs 6453.70 Crore and up 13.88 % from last year same quarter Total Income of Rs 6086.80 Crore. Company has reported net profit after tax of Rs 1400.70 Crore in latest quarter.

Investment Rationale
Follow through moves post series of multiple anchor columns implies continuation of an underlying trend.

Promoter/FII Holdings
Promoters held 26.69 per cent stake in the company as of 30-Jun-2023, while FIIs owned 26.99 per cent, DIIs 21.98 per cent.

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