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Why is Dr Reddy`S Lab shooting up ?

suniljain's picture
Submitted by suniljain on October 23, 2009 - 15:53

Reddy announced the result and it came better than street expected . Stock jumps http://www.google.com/finance?q=BOM:500124

Company posted a rise of 2.77 times in the net profit of Rs 2,398.50 million for the quarter ended Sep. 30, 2009 as compared to Rs 866.40 million for the quarter ended September 30, 2008.

Company has market cap of 16195 Cr . Net profit of 239 cr in this Quarter would give it P/E of around 18. This could be expensive if company is not able to maintain this level of earning.

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