With Nirmala Sitharaman announcing the Union Budget 2019, Shares of Dr Reddy laboratories increased by 0.33% to open at 2,610. The price closed at 2,611.00.
The BSE group ‘A’ stock of face value Rs 5 has touched a 52-week high of Rs 2,965.20 on 2 May 2019 and a 52-week low of Rs 2017.20 on 20 July 2018.
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Dr Reddy’s shares have jumped over 15% in the last one year compared with a 12% gain in the benchmark Nifty 50 index. The promoter holding in the company stood at 26.77%, while Institutions and Non-Institutions held 45.46% and 13.66%, respectively.
The pharmaceutical company in May announced that it plans to spend up to $300 million on research and development (R&D) during the current financial year.
Dr Reddy’s President, CFO and global head (HR) Saumen Chakraborty said that the company has spent $226 million on R&D during the last fiscal year as against $264 million in FY18. Dr Reddy’s Laboratories is a multinational pharmaceutical company based in Hyderabad, Telangana in India. It manufactures and markets a wide range of pharmaceuticals in India and overseas.
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