Barclays upgrades Dr Reddy's to overweight
May 22 2014 , Mumbai
Dr. Reddy's shares are down 8.6 percent so far for the year, as part of a shift to domestic cyclicals from exporters and defensive sectors, compared to a 15.6 percent gain in the Nifty.
Barclays says Dr. Reddy's is now trading at a discount to historical valuations and its peers, while it remains "positive" on the drug-maker's fundamentals.
Dr. Reddy's shares were up nearly 1 percent as of 10:18 a.m.