Latest news with #DrReddy's
Time of India
4 days 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)
Economic Times
4 days ago
- Business
- Economic Times
Dr Reddy's Labs shares in focus after I-T dept issues order over Rs 2,396 crore tax demand
Following Dr Reddy's Labs' response to the initial notice, the Income Tax Authority issued an Order on May 30, 2025, justifying the demand notice. Synopsis The Income Tax Department has raised a demand of over Rs 2,395 crore linked to Dr Reddy's Labs' past merger. The company asserts full compliance with tax laws and says there's no material financial impact. 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. ADVERTISEMENT 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 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.'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. ADVERTISEMENT Also Read: India's top 10 priciest stocks in 2025: MRF to Elcid, see who tops the list 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'. ADVERTISEMENT 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. ADVERTISEMENT (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel) Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Cyient shares fall over 9% after Q4 profit declines, core business underperforms Cyient shares fall over 9% after Q4 profit declines, core business underperforms L&T Technology Services shares slide 7% after Q4 profit dips L&T Technology Services shares slide 7% after Q4 profit dips Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? SEBI warns of securities market frauds via YouTube, Facebook, X and more SEBI warns of securities market frauds via YouTube, Facebook, X and more API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders Security, transparency, and innovation: What sets Pi42 apart in crypto trading Security, transparency, and innovation: What sets Pi42 apart in crypto trading Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains The rise of Crypto Futures in India: Leverage, tax efficiency, and market maturity, Avinash Shekhar of Pi42 explains NEXT STORY
Time of India
19-05-2025
- Business
- Time of India
MF managers shift focus to beaten-down sectors amid April volatility
Healthcare stocks like Dr Reddy's, Cipla, Lupin, and Aurobindo found favour as defensive bets where valuations are reasonable and are considered less affected by geopolitical tensions In April, mutual fund managers adopted a cautious approach to stock purchases. Geopolitical tensions between India and Pakistan, along with US-China trade war uncertainties, influenced their decisions. Fund managers selectively bought stocks in capital goods and power sectors, focusing on those with significant price corrections. Tired of too many ads? Remove Ads Mutual fund managers were cautious while buying stocks in April, keeping in mind the tensions between India and Pakistan, and uncertainty around the outcome of tariff wars as the US and China continued to levy counter tariffs. Fund managers made purchases in segments where stocks have corrected made selective purchases in sectors like capital goods and power, where sharp declines of more than 25% in individual stocks made them good rotational continued to add pharma, given the defensive nature of the industry. Healthcare stocks like Dr Reddy's, Cipla Lupin , and Aurobindo found favour as defensive bets where valuations are reasonable and are considered less affected by geopolitical tensions
Mint
12-05-2025
- Business
- Mint
Dr Reddy's, Navin Fluorine to Birla Corporation: These seven stocks declare dividend
Dividend Stocks: Dr Reddy's, Navin Fluorine, Birla Corporation, Triveni Turbines, Shakti Pumps (India) Limited, and Electrosteel Castings Ltd Apollo Pipes Limited are among Seven key stocks declared dividend for investors over the weekend or post market hours on Friday and their share price will remain in Focus on Monday Dr. Reddy's Laboratories Limited - The Board of Dr Reddy's on 9 May 2025 Recommended a final dividend of Rs. 8/- per equity share of Rs. 1/- each for the financial year 2024-25. NAVIN FLUORINE INTERNATIONAL LIMITED- Navin Fluorine on 9 May 2025 declared final dividend of ₹ 7/- per equity share (350% taking into consideration face value) for FY 2024-2025, as recommended by the Board at its Meeting held today i.e. on May 09, 2025. The dividend as per Navin Flurine is to be approved by the Members of the Company at the forthcoming 27th Annual General Meeting, which is scheduled to be held on July 31, 2025. The Record date decided by Navin Fluorine stands on Friday, July 04, 2025 Final Dividend, if declared shall be paid on or after Friday, August 08, 2025. BIRLA CORPORATION Ltd - Birla Corp also Recommended Dividend of `Rs10 per share (i.e. 100% taking into consideration the face value) on 7,70,05,347 ordinary shares for the Financial Year 2024-25. As per Birla Corp the dividend shall be paid within 30 (thirty) days from the date of approval by the shareholders at the ensuing Annual General Meeting of the Company Triveni Turbine Limited- The Board of Triveni Turbines recommended a final dividend @ 200% taking into account the face vlue of the share i.e. Rs. 2/- per fully paid-up equity share of the face value of Re. 1/- each for the financial year 2024-25. The same as per Triveni Turbine is subject to approval of the shareholders at the ensuing Annual General Meeting ('AGM') to be held on Monday, September 8, 2025. The dividend, if approved at the AGM, shall be paid to the shareholders, subject to deduction of tax at source, within thirty days from the date of declaration, as per Triveni Turbine. Shakti Pumps (India) Limited- Shakti Pumps recommended the final dividend of Rs. 1/- per Equity Shares of face value of Rs. 10/- each, which amounts to 10 % considering the face value of share, for the financial year ended March 31, 2025. The same as per Shakti Pumps are subject to approval members in the ensuing Annual General Meeting (AGM) of the Company Electrosteel Castings- The Electrosteel Castings recommended a final dividend of Rs. 1.40 (amounting to 140% on face value) per Equity Share of face value of Re. 1/_each for the Financial Year ended 31 March1 20l5: Apollo Pipes Limited- Apollo Pipes announced a final Dividend of Rs. 0.70/-(Seventy Paisa Only) per equity share of Rs. 10/- each (7% on considering the Face Value) for the financial year ended March 31, 2025. This shall be paid or dispatched as per Apollo Pipes to the shareholders within 30 days of declaration and any further information in this regard as per Apollo Piped including record date etc. shall be given to the stock exchanges in due course Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.
Time of India
09-05-2025
- Business
- Time of India
Dr Reddy's Q4 net profit rises 21% to Rs 1,587 crore on strong global sales
Dr Reddy's Laboratories on Friday reported a 21 per cent year-on-year rise in consolidated net profit to Rs 1,587 crore for the quarter ended March 2025, buoyed by robust sales across key markets including the US and India. Tired of too many ads? go ad free now The Hyderabad-based had posted a net profit of Rs 1,307 crore in the same quarter last year. Revenue for the January–March quarter climbed to Rs 8,506 crore, up from Rs 7,083 crore a year earlier, the company said in a regulatory filing. For the full financial year 2024-25, Dr Reddy's posted a net profit of Rs 5,724 crore, reflecting a modest 3 per cent growth over Rs 5,568 crore recorded in FY24. Annual revenue rose to Rs 32,553 crore from Rs 27,916 crore in the previous fiscal. 'We achieved double-digit growth across our businesses, driven by successful product launches, increased revenues from key products in the US, and the integration of the acquired NRT business,' said G V Prasad, Co-Chairman and Managing Director of . He added that the company remains focused on strengthening core operations through portfolio management, operational excellence, and strategic partnerships, including potential acquisitions. In FY25, North American revenue grew 12 per cent to Rs 14,516 crore from Rs 12,989 crore in FY24. Revenue from India's generics segment rose 16 per cent to Rs 5,373 crore from Rs 4,641 crore. The board has recommended a final dividend of Rs 8 per equity share of Re 1 for FY25. It also approved the reappointment of G V Prasad as Whole-Time Director designated as Co-Chairman and Managing Director for a five-year term from January 30, 2026, to January 29, 2031. Shares of Dr Reddy's ended 0.67 per cent higher at Rs 1,156.40 on the BSE.
