Dr.Reddy's hits a new high

Dr.Reddy’s has hit a ne 52-week high today at Rs.2250 and even now, it remains in the green, up around 1.5% at Rs.2246. Volumes remain pretty muted at around 4500 shares compared to over 13,000 shares over past two weeks average.

The stock hit the roof on value buying for the long term. Long term investors are said to taking positions in the stock as it is being looked upon a dependable stock in the pharma space. Last week the  ompany had announced having launched Lamotrigine Extended-Release Tablets (25 mg, 50 mg, 100 mg, 200 mg, 300 mg) a therapeutic equivalent generic version of Lamictal® XR (lamotrigine) in the US market on June 25, 2013, following the approval by the United States Food & Drug Administration (USFDA) of the drug. Making brokerage houses, Indian as well as FII have put out a buy call on the stock as these various new launches and US FDA approvals bode well for the company in the long run. Injectables are expected to be its growth machine over the next few months and in this segment it has seven known filing. The big trigger would be the launch of its much awaited generic drugs for leukaemia treatment - Vidaza and Dacogen.