Dr Reddys Laboratories has received reaffirmation in credit rating for bank facilities aggregating Rs 2,000 crore at ICRA AA+; Stable. Powered by Capital Market - Live

Dr Reddys Laboratories Ltd is up for a third straight session in a row. The stock is quoting at Rs 1387.8, up 2.41% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.42% on the day, quoting at 23849.94921875. The Sensex is at 78785.09, up 0.4%. Dr Reddys Laboratories Ltd has added around 16.43% in last one month. Meanwhile, Nifty Pharma index of which Dr Reddys Laboratories Ltd is a constituent, has added around 5.77% in last one month and is currently quoting at 22712.55, up 1.19% on the day. The volume in the stock stood at 21.03 lakh shares today, compared to the daily average of 26.64 lakh shares in last one month. The benchmark January futures contract for the stock is quoting at Rs 1393.95, up 2.57% on the day. Dr Reddys Laboratories Ltd is up 18.44% in last one year as compared to a 9.51% gain in NIFTY and a 36.31% gain in the Nifty Pharma index.The PE of the stock is 23.51 based on TTM earnings ending September 24.Powered by Capital Market - Live

According to the exchange filing, the subsidiary was officially established on 20 December 2024. The company disclosed that the delay in the announcement was due to the late receipt of information from the newly incorporated subsidiary. Dr Reddy's Finland Oy is a step-down wholly-owned subsidiary of the company. The primary purpose of incorporating Dr. Reddy's Finland Oy is to engage in the healthcare and pharmaceutical sectors, including the general marketing, sales, and promotion of medical devices, as well as providing marketing and consulting services for these products. The business of Dr. Reddy's Finland Oy is in line with the main line of business of the company. As Dr. Reddy's Finland Oy is promoted by DRSA, it is considered a related party of Dr. Reddy's Laboratories. Dr Reddy's Labs is engaged in providing medicines. The firm operates in three segments: global generics, pharmaceutical services and active ingredients (PSAI) and proprietary products. The company's consolidated net profit declined 15.3% to Rs 1,255.70 crore despite of 16.5% jump in revenue from operations to Rs 8,016.10 crore in Q2 FY25 over Q2 FY24. The scrip rose 0.77% to Rs 1,351.15 on the BSE. Powered by Capital Market - Live

Dr Reddys Laboratories will hold a meeting of the Board of Directors of the Company on 23 January 2025.Powered by Capital Market - Live

Dr Reddys Laboratories Ltd gained for a third straight session today. The stock is quoting at Rs 1356.8, up 2.35% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is down around 0.76% on the day, quoting at 23768.69921875. The Sensex is at 78513.49, down 0.89%. Dr Reddys Laboratories Ltd has gained around 13.51% in last one month. Meanwhile, Nifty Pharma index of which Dr Reddys Laboratories Ltd is a constituent, has gained around 4.3% in last one month and is currently quoting at 22697.9, down 0.1% on the day. The volume in the stock stood at 46.46 lakh shares today, compared to the daily average of 22.23 lakh shares in last one month. The benchmark December futures contract for the stock is quoting at Rs 1350.35, up 2.44% on the day. Dr Reddys Laboratories Ltd is up 22.14% in last one year as compared to a 11.83% jump in NIFTY and a 39.64% jump in the Nifty Pharma index.The PE of the stock is 23 based on TTM earnings ending September 24.Powered by Capital Market - Live

Dr Reddys Laboratories has allotted 13,080 equity shares under ESOS on 19 December 2024. Powered by Capital Market - Live

Toripalimab is the only immuno-oncology drug approved by various regulatory authorities around the world such as the United States Food and Drug Administration (USFDA), European Medicines Agency (EMA), Medicines and Healthcare products Regulatory Agency (MHRA), and others. In 2023, Dr. Reddy's entered into a license and commercialisation agreement with Shanghai Junshi Biosciences Co. Ltd for Toripalimab. Under this agreement, Dr. Reddy's obtained exclusive rights to develop and commercialise Toripalimab in 21 countries including India, South Africa, Brazil and various countries in Latin America. Additionally, the agreement allows Dr. Reddy's to expand the scope of the license to cover Australia, New Zealand and nine other countries. With this launch by Dr. Reddy's, India becomes the third country in the world after China and the United States to receive access to this next generation PD-1 inhibitor. Dr. Reddy's will market it under the brand name Zytorvi in India. The standard of care for RM-NPC in India before Toripalimab was chemotherapy (gemcitabine and cisplatin). Toripalimab is indicated as first-line treatment of adults with metastatic or recurrent locally advanced NPC in combination with gemcitabine and cisplatin. Additionally, Toripalimab has also been approved as monotherapy for the treatment of adults with recurrent unresectable or metastatic NPC with disease progression on or after platinum-containing chemotherapy. According to GLOBOCAN 2022 statistics, the number of newly diagnosed NPC cases in 2022 exceeded 120,000 worldwide. In India, there were 6,519 newly diagnosed cases of NPC in 20224. M.V. Ramana, chief executive officer, Branded Markets (India and Emerging Markets), Dr. Reddy's, said: The launch of Toripalimab is a significant milestone for patients diagnosed with nasopharyngeal carcinoma (NPC) in India. NPC is a rare form of head and neck cancer. However, the prognosis of the disease for patients in advanced stages is poor, and India is among the top five countries in the world in terms of disease burden. As the next generation PD-1 inhibitor, Toripalimab has demonstrated superior outcomes for RM-NPC versus standard of care, thereby meeting a significant unmet need for patients with NPC in India. Dr Reddy's Labs is engaged in providing medicines. The firm operates in three segments: global generics, pharmaceutical services and active ingredients (PSAI) and proprietary products. The company's consolidated net profit declined 15.3% to Rs 1255.70 crore despite of 16.5% jump in revenue from operations to Rs 8016.10 crore in Q2 FY25 over Q2 FY24. The scrip shed 0.17% to currently trade at Rs 1198.45 on the BSE. Powered by Capital Market - Live

Dr Reddys Laboratories announced the launch of Toripalimab in India. Toripalimab is a New Biological Entity (NBE). It is the only immuno-oncology drug approved by various regulatory authorities around the world such as the United States Food and Drug Administration (USFDA), European Medicines Agency (EMA), Medicines and Healthcare products Regulatory Agency (MHRA), and others for the treatment of adults with recurrent or metastatic nasopharyngeal carcinoma (RM-NPC). In 2023, Dr. Reddy's entered into a license and commercialisation agreement with Shanghai Junshi Biosciences Co. Ltd for Toripalimab. Under this agreement, Dr. Reddy's obtained exclusive rights to develop and commercialise Toripalimab in 21 countries including India, South Africa, Brazil and various countries in Latin America. Additionally, the agreement allows Dr. Reddy's to expand the scope of the license to cover Australia, New Zealand and nine other countries. With this launch by Dr. Reddy's, India becomes the third country in the world after China and the United States to receive access to this next generation PD-1 inhibitor. Dr. Reddy's will market it under the brand name Zytorvi' in India. The standard of care for RM-NPC in India before Toripalimab was chemotherapy (gemcitabine and cisplatin). Toripalimab is indicated as first-line treatment of adults with metastatic or recurrent locally advanced NPC in combination with gemcitabine and cisplatin. This combination has shown a 48% reduction in risk of progression or death. Additionally, Toripalimab has also been approved as monotherapy for the treatment of adults with recurrent unresectable or metastatic NPC with disease progression on or after platinum-containing chemotherapy.Powered by Capital Market - Live

The GMP inspection was conducted from 13 November 2024 to 19 November 2024. The USFDA issued Form-483 with 7 observations. Dr Reddy's Labs is engaged in providing medicines. The firm operates in three segments: global generics, pharmaceutical services and active ingredients (PSAI) and proprietary products. The company's consolidated net profit declined 15.3% to Rs 1255.70 crore despite of 16.5% jump in revenue from operations to Rs 8016.10 crore in Q2 FY25 over Q2 FY24.Powered by Capital Market - Live

The headline equity benchmarks traded with substantial losses in early trade. The Nifty dropped below the 23,400 level. Barring the IT index, all the other sectoral indices on the NSE were traded in red. At 09:26 IST, the barometer index, the S&P BSE Sensex declined 419.26 points or 0.54% to 77,159.12. The Nifty 50 index lost 142.95 points or 0.61% to 23,375.55. In the broader market, the S&P BSE Mid-Cap index shed 0.52% and the S&P BSE Small-Cap index fell 0.58%. The market breadth was weak. On the BSE, 1,068 shares rose and 1,879 shares fell. A total of 140 shares were unchanged. Foreign portfolio investors (FPIs) sold shares worth Rs 3,411.73 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 2,783.89 crore in the Indian equity market on 19 November 2024, provisional data showed. Stocks in Spotlight: Dr Reddy's Laboratories (DRL) slipped 2.46% after the company informed that on Tuesday, 19 November 2024, US Food and Drug Administration (USFDA) completed its Good manufacturing practice (GMP) inspection at API manufacturing facility located in Bollaram, Hyderabad. Garden Reach Shipbuilders & Engineers (GRSE) rose 0.79%. The company has signed a contract with the Transport Department, Government of West Bengal, for the delivery of 13 hybrid ferries for total consideration of Rs 226.18 crore. Godrej Properties shed 0.42%. The company has announced the acquisition of a 53-acre land parcel in Joka, Kolkata. The company plans to develop a residential plotted development project on this land, with an estimated development potential of 1.3 million square feet and a revenue potential of approximately Rs 500 crore. Numbers to Track: The yield on India's 10-year benchmark federal paper added 1.87% to 6.938 as compared with previous close 6.810. In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 84.4200, compared with its close of 84.4275 during the previous trading session. MCX Gold futures for 5 December 2024 settlement rose 0.20% to Rs 76,189. The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.14% to 106.53. The United States 10-year bond yield shed 0.05% to 4.408. In the commodities market, Brent crude for January 2024 settlement gained 17 cents or 0.23% to $72.98 a barrel. Global Markets: Asian markets declined on Thursday, dampened by mixed signals from Nvidia's earnings report and heightened geopolitical tensions. Investors remained cautious, with concerns over Russia-Ukraine conflict weighing on sentiment. U.S. stocks closed mixed on Wednesday, with Target's disappointing earnings and Nvidia's tempered guidance impacting investor sentiment. While the Dow Jones Industrial Average gained 0.32%, the S&P 500 index ended flat%, and the NASDAQ Composite index fell 0.11%. Investors were rattled by a nearly 22% slide in Target after the retailer missed expectations for its September quarter earnings. Target steadied in evening trade, although its earnings also raised some questions over weakening retail spending. Nvidia shares fell more than 1% in aftermarket trade to around $144.0, trimming some losses after falling as much as 2% just after its earnings. Earnings per share rose to $0.81 on revenue of $35.1 billion, higher than expectations of $0.75 in EPS and $33.09 billion in revenue. Nvidia's quarterly results, while exceeding expectations, fell short of some analysts' hopes for a more significant beat. The company's guidance for the fourth quarter, though slightly above estimates, hinted at a slower pace of revenue growth, raising questions about the sustainability of AI-driven demand. This cautious outlook tempered investor enthusiasm and contributed to the broader market's subdued performance. Market participants are now focused on a series of U.S. economic indicators, including jobless claims, home sales data, and the Purchasing Managers' Index (PMI). Additionally, several Federal Reserve officials are scheduled to speak, providing insights into the central bank's monetary policy outlook. Powered by Capital Market - Live