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

  • RBI must join hands with IRDAI to stop misselling of insurance by banks

    Reserve Bank of India (RBI) governor Raghuram Rajan has observed in the annual report for 2015-16 released on Monday that the central bank will be foc

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Roopen Roy

Streaming indeed has a bright future

Woody Allen has turned 80. But his energy has not ...

Zehra Naqvi

How much land does a man need?

“When the blood in your veins returns to the sea ...

Dharmendra Khandal

Everything has its place in nature

Last week I was observing an injured animal, because of ...