Thursday, 19 November 2015

Dr.Reddy's Lab plunges 6%

The pharma company has completed the purchase of worldwide exclusive Intellectual Property Rights for Fondaparinux sodium, its generic anti-coagulant drug, from Australian partner Alchemia for $17.5 million.


Dr.Reddy's Laboratories has plunged 6% to Rs. 3,173 on BSE. The pharma company has completed the purchase of worldwide exclusive Intellectual Property Rights for Fondaparinux sodium, its generic anti-coagulant drug, from Australian partner Alchemia for $17.5 million.

The scrip opened at Rs. 3386.05 and has touched a high and low of Rs. 3404.75 and Rs. 3140 respectively. So far 8,82,901 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 57583.01 crore.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 4382.95 on 20-Oct-2015 and a 52 week low of Rs. 3010 on 09-Feb-2015. Last one week high and low of the scrip stood at Rs. 3518.35 and Rs. 3300 respectively.

The promoters holding in the company stood at 25.51 % while Institutions and Non-Institutions held 41.91 % and 14.35 % respectively.

The stock is currently trading above its 50 DMA.

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