Dr Reddy's hits all-time high ahead of Jan-March earnings

Last Updated: Mon, May 13, 2013 08:40 hrs

Shares in Dr.Reddy's Laboratories Ltd gain as much as 2.9 percent to an all-time high of 2,152 rupees on hopes the Indian drugmaker will beat earnings estimates for the March quarter by a wide margin, according to multiple dealers.

They cite market speculations that Dr.Reddy's will report a net profit of over 5 billion rupees for the January-March period versus analyst estimates of 4.46 billion rupees as provided by Thomson Reuters StarMine.

Dr.Reddy's shares up 0.54 percent at 1:34 p.m.

The company spokesman refrained from comment.

More from Sify: