Dr Reddy's gains as worries about spending ease

Tags: Companies
Shares of Dr. Reddy's Laboratories rise, adding to Friday's 1.8 percent gain, after the drugmaker's annual report last week provided key details about spending on building capacity, raising hopes that expenses would reduce after FY16, dealers say.

Dr. Reddy's said in its annual report filed with the U.S. Securities and Exchange Commission that the company would finance expansion plans through operating cash flow and through cash and other investments, and that the majority of these projects would be completed during the fiscal years ending in March 2015 and March 2016.

Investors had worried about Dr. Reddy's spending after the drugmaker's quarterly net profit fell short of analysts' estimates due to a rise in expenses.

Shares in Dr. Reddy's were trading up 1.7 percent to 2595 rupees as of 11:47 a.m.

EDITORIAL OF THE DAY

  • India is yet to play fair with her women sportspersons

    Women in India make news when their being women for better or worse is the reason, not because their achievements single them out as persons who have

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Amita Sharma

Surely, our children deserve the best?

The findings of the latest national achievement survey for Class ...

Zehra Naqvi

It’s only words

The Indian film industry is, perhaps, the most recognisable symbol ...

Bubbles Sabharwal

Ruling the world from the kitchen

Today I am one thing, tomorrow another! Sometimes wife, sometimes ...