Dr. Reddy’s stock to rise: Morgan Stanley

Dr. Reddy's stock price will rise in over the next 45 days,says Morgan Stanley.

Written by Agencies | Published:January 6, 2012 11:08 am

Dr. Reddy’s Laboratories stock price will rise in absolute terms over the next 45 days,says Morgan Stanley citing expectations of strong October-December results.

The major driving force will be the momentum in the base business and short-term Zyprexa exclusivity.

In addition,the base business is likely to strengthen in the ensuing weeks/months… said Morgan Stanley in a note On Thursday.

The bank added that valuations appear inexpensive at current levels based on FY12 and FY13 expected earnings.

At 10:03 a.m,shares of Dr Reddy’s were up 0.14 percent at 1,583 rupees.

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