Dr Reddy's sees sharpest intra-day rally since Sept 2020; stock surges 8%

Shares of Dr Reddy’s Laboratories moved higher by 8 per cent to Rs 4,259 on the BSE in Friday’s trade. The stock gained 9 per cent in two days after the pharma company reported better-than-expected revenue growth in March quarter (Q4FY22). The board also recommended a final dividend of Rs 30 (600 per cent) per equity share of Rs 5 each for the financial year 2021-22.

The stock witnessed its sharpest rally in intra-day since September 2020. Earlier, on September 18, 2020, it zoomed 14 per cent in intra-day, and ended 10 per cent higher on the BSE.