Dr. Reddy's Laboratories Ltd. share price target

We have HOLD on the stock.

Dr. Reddy’s Lab (DRRD) delivered 4QFY24 revenue in line with our estimate.
However, EBITDA was lower than expected due to higher SGA expenses and
R&D spending. In addition to US generics/branded generics segments, DRRD is
enhancing its offering through JVs/partnerships/acquisitions in nutraceuticals,
vaccine, women’s health and dietary supplement space.

MSIL: Healthy all-round performance raise to BUY. DRRD: Buoyant US sales drive performance. VOLT: UCP improving, Qatar business a dampener. DIXON: Mobile business dials up growth; maintain BUY. KJC: Soft demand, intense competition mar quarter. BLSTR: Purple patch continues; maintain BUY. KECI: Pipeline robust, margin improvement delayed. ABSLAMC: Double-digit growth but market share bleed continues. Metals & Mining: Jindal Stainless: Management meet takeaways

Healthy quarter with revenue/PAT coming in 3%/4% ahead of consensus; US sales a positive surprise, rising 6% QoQ

We believe the company's strategy of investing in various businesses may provide growth in the long term. Recommendation: HOLD

Q2 revenue in line but PAT outdid consensus by 22% on account of PLI benefits, litigation settlement and interest income

We believe the company's strategy of investing in various businesses may provide growth in the long term