Views on Lundin Law PC Announces Ongoing Investigation of Dr. Reddy's Labs: Angel Broking

Views of Ms. Sarabjit Kour Nangra (VP Research - Pharma, Angel Broking):

Lundin Law PC Announces Ongoing Investigation of Dr. Reddy's Labs

"Lundin Law PC announced it is investigating claims against Dr. Reddy's Laboratories Ltd concerning possible violations of federal securities laws. The investigation is related to allegations that certain statements issued by Dr. Reddy's were false and misleading concerning the Company's financial performance. No class has been certified in the above action. Until a class is certified, you are not considered represented by an attorney. You may also choose to do nothing and be an absent class member. Currently we don't think there are any major immediate financial implications of the same and hence, we maintain our numbers and BUY rating with a price target of INR 3933."

Shares of DR.REDDY'S LABORATORIES LTD. was last trading in BSE at Rs.3099.1 as compared to the previous close of Rs. 3110.35. The total number of shares traded during the day was 140638 in over 12980 trades.

The stock hit an intraday high of Rs. 3137 and intraday low of 3053. The net turnover during the day was Rs. 434604449.

Source : Equity Bulls

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