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CNBC TV18

Dr. Reddy’s shares in focus after weak June-quarter results as US-listed ADRs slide 10%

AI Market Summary
Dr. Reddy's reported a weaker-than-expected Q1, pressured by a ₹240 crore Semaglutide API provision and a 35% YoY decline in North America revenue, prompting a 10% drop in its US-listed ADR and a lower broker target. The update adds to near-term uncertainty around quality remediation and US policy noise on future pharma tariffs, weighing sentiment across Indian pharma equities.
Impact level
● Medium
Affected assets
NCCOGOLD2USD/USDT-1.67%
AI Insight · NCCOGOLD2USD/USDTAI Insight
▼ Bearish
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⚠️ AI-generated insights are based on news content and are provided for informational purposes only. They do not constitute investment advice or represent the views of BingX. Investing involves risk. Please trade responsibly.
Dr. Reddy’s Laboratories reported a weaker-than-expected June-quarter performance, weighed down by a ₹240 crore provision tied to a Semaglutide API issue and a 35% drop in North America revenue to ₹2,204.8 crore. Its US-listed ADRs fell 10%, while the stock ended 2% lower in India at ₹1,182.8. Motilal Oswal maintained a “neutral” rating but cut its price target to ₹1,125, implying 5% downside from Wednesday’s close. The company said it is working to identify the root cause of the Semaglutide issue and does not expect further provisions.
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