Latest news with #DrReddy
Time of India
18 hours ago
- Business
- Time of India
Dr Reddy's Labs shares in focus after I-T dept issues order over Rs 2,396 crore tax demand
Shares of Dr Reddy's Laboratories will be in focus on Monday after the pharmaceutical major received a tax demand of over Rs 2,395 crore from the Income Tax Department for the assessment year 2020–21. The demand is linked to the merger of Dr Reddy's Holdings into Dr Reddy's Laboratories under a scheme of amalgamation. The company disclosed receiving a show cause notice on April 4, 2025, from the I-T Department. This notice required Dr Reddy's to demonstrate why its tax returns for the Assessment Year 2020-21 should not be reassessed. Following the company's response to this initial notice, the Income Tax Authority issued an Order on May 30, 2025, justifying the demand notice. Dr Reddy's has stated that the scheme of amalgamation, which was approved by the National Company Law Tribunal (NCLT) in Hyderabad on April 5, 2022, with an effective date of April 1, 2019, was carried out in adherence to all legal requirements, including tax laws. The company added that it 'strongly believes there has been no escapement of income' due to the amalgamation. It also stated that the development is not expected to have any material impact on its financials, operations, or activities at this stage, and it is currently reviewing the order and taking necessary steps. Live Events 'Based on our assessment, there is no material impact on the financials, operations, or other activities of the company at this stage,' it said in a statement. Also Read: India's top 10 priciest stocks in 2025: MRF to Elcid, see who tops the list Dr Reddy's Labs share price target According to Trendlyne, the average target price for Dr Reddy's Labs is Rs 1,271, indicating a potential upside of nearly 2% from current levels. Among 38 analysts covering the stock, the consensus rating is 'Hold'. Also Read: Ola Electric, Kalyan Jewellers among 10 firms where promoters pledge increased in Q4 Shares of Dr Reddy's are down 9% year-to-date but have risen 12% over the past three months. The company's current market capitalisation stands at Rs 1,04,448 crore. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
News18
20 hours ago
- Business
- News18
Stocks To Watch: IndiGo, Tata Motors, BPCL, Vodafone Idea, BPCL, Nykaa, And Others
Last Updated: Stocks to watch: Shares of firms like IndiGo, Tata Motors, BPCL, Vodafone Idea, BPCL, Nykaa, and others will be in focus on Monday's trade Stocks to Watch on June 2: Indian equity markets began the June expiry on a cautious note, ending marginally lower amid continued consolidation. In today's trade, shares of Apollo Hospitals, IndiGo, Tata Motors, BPCL, Vodafone Idea, and others will be in focus due to significant news and quarterly earnings updates. IndiGo IndiGo CEO Pieter Elbers said the airline welcomed the three-month extension (granted till August 2025) for its 'damp-leased' aircraft from Turkish Airlines by the DGCA. This move will support ongoing operations and customer commitments. Tata Motors Tata Motors reported an 8.6% YoY decline in total sales to 70,187 units in May 2025, compared to 76,766 units in the same period last year. Domestic sales fell 10% to 67,429 units. TVS Motor TVS Motor's total sales rose 17% YoY to 4.31 lakh units in May, up from 3.69 lakh units a year earlier. Two-wheeler sales jumped 16% to 4.16 lakh units versus 3.59 lakh units last year. BPCL BPCL's board approved an investment in a joint venture with Tikitar and Shell India, aimed at manufacturing and marketing bitumen products. Dr Reddy's Dr Reddy's said the matter of Novo Nordisk's Semaglutide patents in India remains sub-judice. Vodafone Idea reported a narrowed loss of Rs 7,166 crore for the March quarter. The telco's board has also approved a fundraising plan of up to Rs 20,000 crore, pending shareholder and regulatory approvals. EaseMyTrip EaseMyTrip posted a sharp 59% QoQ decline in net profit for Q4FY25 to Rs 139 crore, down from Rs 150 crore in Q3 FY25 — a decrease of 7.33%. Senco Gold Senco Gold Ltd reported a 94% YoY surge in consolidated net profit to Rs 62.44 crore in Q4FY25, driven by strong sales. Revenue for the quarter stood at Rs 1,377.71 crore, up from Rs 1,137.28 crore last year. Som Distilleries Som Distilleries & Breweries Ltd saw an 18.8% rise in consolidated net profit to Rs 23.73 crore in Q4FY25, aided by IMFL volume growth and higher realisations. Apollo Hospitals Apollo Hospitals Enterprise reported a robust 54% YoY jump in consolidated profit after tax to Rs 390 crore for the March 2025 quarter, supported by strong sales. Nykaa Nykaa's parent, FSN Ecommerce Ventures, posted a threefold YoY increase in consolidated net profit to Rs 20.28 crore in Q4. Revenue rose 23.6% to Rs 2,061.76 crore, up from Rs 1,667.98 crore a year earlier. Inox Wind Inox Wind Ltd posted a fivefold jump in consolidated net profit to Rs 190.34 crore in Q4FY25, as revenues surged. Income more than doubled to Rs 1,310.65 crore from Rs 569.04 crore in the previous year. Disclaimer: First Published: June 02, 2025, 07:51 IST News business » markets Stocks To Watch: IndiGo, Tata Motors, BPCL, Vodafone Idea, BPCL, Nykaa, And Others
Time of India
21 hours ago
- Business
- Time of India
Stocks in news: Apollo Hospitals, IndiGo, Tata Motors, BPCL, Vodafone Idea
Markets began the June expiry on a muted note and ended marginally lower, continuing the ongoing consolidation phase. In today's trade, shares of Apollo Hospitals , IndiGo , Tata Motors , BPCL , Vodafone Idea among others will be in focus due to various news developments and fourth quarter results. IndiGo IndiGo CEO Pieter Elbers said that the three-month extension, granted till August 2025, for the 'damp-leased' aircraft from Turkish Airlines by DGCA will help the airline manage ongoing operations and customer commitments. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Access all TV channels anywhere, anytime Techno Mag Learn More Undo Tata Motors Tata Motors reported a decline in overall sales, with total sales down 8.6% year-on-year at 70,187 units in May 2025, compared to 76,766 units last year, while domestic sales dropped 10% to 67,429 units. TVS Motor Total sales rose 17% year-on-year to 4.31 lakh units in May, compared to 3.69 lakh units last year, with two-wheeler sales up 16% at 4.16 lakh units versus 3.59 lakh units in the same period. Live Events BPCL BPCL board has approved an investment in a joint venture with Tikitar and Shell India, aimed at manufacturing and marketing bitumen products. Alembic Pharma Alembic Pharmaceuticals has received a Form 483 from the US FDA with four observations for its API-I and API-II manufacturing units at Panelav. Coal India Coal India has filed the draft red herring prospectus (DRHP) for its subsidiary Bharat Coking Coal Ltd (BCCL) with Sebi. The proposed IPO will be an offer for sale (OFS) of up to 46.57 crore shares by Coal India. Dr Reddy's Dr Reddy's said on Novo Nordisk's Semaglutide patents in India that the matter is currently sub-judice. Apollo Hospitals Apollo Hospitals Enterprise reported fourth-quarter profit above market estimates on Friday, driven by higher demand for its healthcare services. Nykaa Beauty products retailer Nykaa posted a fourth-quarter profit that nearly tripled year on year as premium brands continued to attract urban consumers. Vodafone Idea Debt-ridden telco Vodafone Idea reported narrowing of losses for the March quarter to Rs 7,166 crore and its board greenlit fundraising of up to Rs 20,000 crore subject to shareholders' approval and statutory nods.
Economic Times
3 days ago
- Business
- Economic Times
Big fat legal war bursts out ahead of Novo Nordisk's Wegovy launch
Live Events Next Hearing on Aug 19 (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel A high-stakes legal battle has erupted ahead of the anticipated launch of Novo Nordisk 's blockbuster weightloss drug Wegovy (semaglutide) in India. The Delhi High Court has restrained Dr Reddy's Laboratories (DRL) and OneSource Specialty Pharma from selling semaglutide in the domestic market, following a patent infringement plea by the Danish the court, in an interim order Thursday, has not barred the Indian companies from manufacturing and exporting the drug. 'The defendants have alicence to manufacture the impugned drug, which was granted in December 2024, and have begun manufacturing the drug in April 2025,' noted the order uploaded late added that 'the defendants reserve their right to export the impugned drug in countries where the plaintiff has not been granted a patent yet'.Novo Nordisk on May 26 filed a patent infringement suit against Hyderabad-based Dr Reddy's and contract drugmaker OneSource before the Delhi HC. This was a countermove after Dr Reddy's on May 14 moved the HC seeking revocation of Novo Nordisk's patent for semaglutide—the active ingredient in Wegovy and Ozempic, the Danish firm's popular obesity and diabetes drugs. Novo Nordisk has alleged that Dr Reddy's and OneSource are importing large quantities of semaglutide active pharmaceutical ingredient (API) into India, and using it to manufacture and export violated Novo's patent rights, it claimed.A single-judge bench of the Delhi HC has posted the matter for further hearing on August 19, along with Dr Reddy's patent challenge, a senior lawyer told experts expect Novo Nordisk to appeal the interim order before a division bench as the single bench has not restrained the Indian companies from exporting semaglutide. 'Novo Nordisk is taking active steps to protect its inventions in India,' a company spokesperson said. The company said its semaglutide patents are protected in India and it expects continued support and protection of innovation in the country. 'However, we would not like to comment on a sub-judice matter,' the spokesperson a statement to ET, a Dr Reddy's spokesperson said, 'The matter is currently sub judice. We are unable to comment on it at this time.'A spokesperson for OneSource, too, declined comment citing the same a 650-page petition, Novo Nordisk said it became aware of the infringements of its valid patent number IN 262697 in India in October and November 2024.
Time of India
3 days ago
- Business
- Time of India
Big Fat Legal War Bursts Out aheadof Wegovy Launch
Live Events A high-stakes legal battle has erupted ahead of the anticipated launch of Novo Nordisk 's blockbuster weight-loss drug Wegovy (semaglutide) in India. The Delhi High Court has restrained Dr Reddy's Laboratories (DRL) and OneSource Specialty Pharma from selling semaglutide in the domestic market, following a patent infringement plea by the Danish the court, in an interim order Thursday, has not barred the Indian companies from manufacturing and exporting the drug. 'The defendants have a licence to manufacture the impugned drug, which was granted in December 2024, and have begun manufacturing the drug in April 2025,' noted the order uploaded late added that 'the defendants reserve their right to export the impugned drug in countries where the plaintiff has not been granted a patent yet'.Novo Nordisk on May 26 filed a patent infringement suit against Hyderabad-based Dr Reddy's and contract drugmaker OneSource before the Delhi HC. This was a countermove after Dr Reddy's on May 14 moved the HC seeking revocation of Novo Nordisk's patent for semaglutide— the active ingredient in Wegovy and Ozempic, the Danish firm's popular obesity and diabetes drugs. Novo Nordisk has alleged that Dr Reddy's and OneSource are importing large quantities of semaglutide active pharmaceutical ingredient (API) into India, and using it to manufacture and export violated Novo's patent rights, it claimed.A single-judge bench of the Delhi HC has posted the matter for further hearing on August 19, along with Dr Reddy's patent challenge, a senior lawyer told experts expect Novo Nordisk to appeal the interim order before a division bench as the single bench has not restrained the Indian companies from exporting semaglutide.'Novo Nordisk is taking active steps to protect its inventions in India,' a company spokesperson said. The company said its semaglutide patents are protected in India and it expects continued support and protection of innovation in the country. 'However, we would not like to comment on a sub-judice matter,' the spokesperson a statement to ET, a Dr Reddy's spokesperson said, 'The matter is currently sub judice. We are unable to comment on it at this time.'A spokesperson for OneSource, too, declined comment citing the same a 650-page petition, Novo Nordisk said it became aware of the infringements of its valid patent number IN 262697 in India in October and November 2024.
