Aug 10, 2013, 01.42 PM IST
Brokerage house Firstcall Research is bullish on Dr Reddys Laboratories and has recommended buy rating on the stock with a target price of Rs 2404 in its August 07, 2013 research report.
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Buy Dr Reddys Labs; target Rs 2404: Firstcall Research
Brokerage house Firstcall Research is bullish on Dr Reddys Laboratories and has recommended buy rating on the stock with a target price of Rs 2404 in its August 07, 2013 research report.
Like this story, share it with millions of investors on M3
Buy Dr Reddys Labs; target Rs 2404: Firstcall Research
Brokerage house Firstcall Research is bullish on Dr Reddys Laboratories and has recommended buy rating on the stock with a target price of Rs 2404 in its August 07, 2013 research report.
"Dr Reddys Laboratories' net profit jumps to Rs.3609.30 million against Rs.3359.80 million in the corresponding quarter ending of previous year, an increase of 7.43 percent. Revenue for the quarter rose 11.98 percent to Rs.28449.20 million from Rs.25406.10 million, when compared with the prior year period. Reported earnings per share of the company stood at Rs.21.22 a share during the quarter, registering 7.12 percent increase over previous year period. Profit before interest, depreciation and tax is Rs.4171.50 millions as against Rs.3917.40 millions in the corresponding period of the previous year."
Outlook and Conclusion: "At the current market price of Rs.2185.00, the stock P/E ratio is at 20.46 x FY14E and 18.50 x FY15E respectively. Earning per share (EPS) of the company for the earnings for FY14E and FY15E is seen at Rs 106.80 and Rs.118.08 respectively. Net Sales and PAT of the company are expected to grow at a CAGR of 15 percent and 12 percent over 2012 to 2015E respectively. On the basis of EV/EBITDA, the stock trades at 17.89 x for FY14E and 16.14 x for FY15E. Price to Book Value of the stock is expected to be at 4.07 x and 3.34 x respectively for FY14E and FY15E. We recommend 'BUY' in this particular scrip with a target price of Rs 2404 for Medium to Long term investment," says Firstcall Research report.
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