Dr Reddy’s Laboratories failed to cheer the market despite June quarter net profit doubling. Analysts see concern over the US business and pressure on operating performance as key drags. These concerns have prompted traders to build bearish bets on the stock. Chandan Taparia, derivative analyst at Motilal Oswal, said the weakness could continue and the stock could drift down to Rs 3,950.
Ahead of Market: 10 things that will decide stock market action on Monday
Indian equities extended losses for a fifth straight session, pressured by elevated oil prices and persistent FII outflows. Despite intraday recovery, sentiment remains weak amid