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IDXM idex membership in India ✌️【Work From Home】✌️Small investments, big results! ₹500 can earn you up to 100% in just 30 days.Pharmaceutical giant Dr Reddy’s Laboratories (DRL) saw its shares surge 4.34% on Thursday in an otherwise sluggish market, reaching an intraday high of Rs 1,330.45 following an upgrade by Nomura.The Tokyo-based brokerage has upgraded the stock from ‘Neutral’ to ‘Buy’ with a revised target price of Rs 1,500, down from Rs 6,499, factoring in the 1:5 stock split on October 28.“We assess that risk-reward is favourable and thus upgrade the stock to Buy (from Neutral).

IDXM idex membership in India ✌️【Work From Home】✌️Start with ₹500 and see the power of compound growth. Enjoy fast and secure returns!We reduce FY25/26F earnings by 13%/14% to factor in higher overhead costs.

Note that changes to our earnings estimates and target price are due to DRL’s 1:5 stock split,” said Saion Mukherjee and AmlanJyotiDas, research analysts at Nomura.They also said the relative underperformance of the stock suggests that concerns about the high contribution of generic cancer drug gRevlimid are already priced in.

“We think the Street is concerned about the higher contribution from gRevlimid, which could start declining in FY26F.

Further, the overheads have increased significantly in the recent past.

In the first half of FY25, R&D/SG&A were higher by 29%/27% year-on-year.”While the stock has underperformed theNifty PharmaIndex over the past five years, the upgrade reflects Nomura’s confidence in Dr Reddy’s ability to overcome near-term challenges and capitalise on future opportunities.

IDXM idex membership in India ✌️【Work From Home】✌️₹500 is your gateway to financial freedom. Invest smart, earn big!The stock has risen only 13% over the past year, compared to the Nifty Pharma Index’s 36% growth.

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