Business OpportunitiesDr Reddy's up 2% on Q1 net surge
The stock extended gains and touched a high of Rs 795, up 9% from its low. It finally settled at Rs 786 - up 5%. It is now only 5% lower from its 52-week high of Rs 829 which it had touched yesterday.
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Volumes jumped considerably to 355,987 shares as against its two-week daily average trade of 80,405 shares on the BSE.
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(Updated at 1222 hrs)
Dr Reddy"s has advanced on the back of good Q1 profits for the June quarter. The stock touched a new- all- time high of Rs 829 yesterday.
The stock opened at Rs 750, slipped to a low of Rs 728 and touched a high of Rs 775.
The scrip is now trading at Rs 763, up 2% from the previous close. Around 126,111 shares have been traded on the BSE as compared to the two-week daily average traded volumes of 80,405 shares on the BSE.
Dr Reddy"s posted a 120% surge in the net profit to Rs 244.5 crore in the June quarter as compared to Rs 111.1 crore during the corresponding quarter, a year ago. Revenue even increased 21% to Rs 1,819 crore against Rs 1,50.9 crore last year