Nomura has a buy rating on Dr Reddys Laboratories in the long term with a target price of Rs 3,200.
Shares of Dr Reddys Laboratories ended down 0.2% at Rs 2,816.25 on Monday while BSE Sensex closed 70.99 points down at 40,938.72.Company FinancialsFor the quarter ended 30-09-2019, the company has reported consolidated sales of Rs 4800.80 crore, up 24.90% from last quarter sales of Rs 3843.60 crore and up 30.22 % from last year same quarter sales of Rs 3686.60 crore.
The company has reported net profit after tax of Rs 1095.10 crore in the latest quarter.
The companys top management includes Dr.Bruce L A Carter, Mr.Allan Oberman, Mr.Bharat N Doshi, Mr.G V Prasad, Mr.K Satish Reddy, Mr.Leo Puri, Mr.Prasad R Menon, Mr.Sridar Iyengar, Ms.Kalpana Morparia, Ms.Shikha Sharma.
Company has S R Batliboi - Associates LLP as its auditors.
As on 30-09-2019, the company has a total of 166,145,748 shares outstanding.
Investment RationaleAmneal is the first generic company to receive approval for a generic version of Nuvaring, said Nomura.
Dr Reddys and Teva are the other known filers, it said.
Amneal will have first-mover advantage; hence, the upside for Dr Reddys is likely to be curtailed to an extent, it said.