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Dr Reddy’s touches 52-wk high after results

October 25, 2010

MARKETS-SOUTHASIA-STOCKS/

Shares in Dr Reddy’s Lab soared to their 52-week high of 1667 rupees on the first day of trade after the company declared quarterly results.

Dr Reddy’s Laboratories Ltd, India’s No. 2 drugmaker by sales, on Saturday reported a 32 percent jump in net profit for the quarter ending September, topping estimates.

Shares in Dr Reddy’s closed 1.3 percent higher at 1638 rupees.

The drugmaker said domestic sales jumped 25 percent in the quarter, helping boost profits.

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