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Results fail to prop up Dr Reddy’s

July 22, 2010

MARKETS-SOUTHASIA-STOCKS/

Shares in Dr Reddy’s dropped 1.6 percent on Thursday despite the drugmaker reporting a 7.5 percent rise in profit for the June quarter.

Net profit was at 2.44 billion rupees ($52 million), up from 2.27 billion rupees a year earlier, according to a posting on the National Stock Exchange.

Shares in the counter have given a positive return of over 20 percent so far this year. Do you think it is the right time to invest in the stock?

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