Companies

Shareholders want Dr Reddy’s to go for stock split

G. Naga Sridhar Hyderabad | Updated on July 21, 2011 Published on July 21, 2011

Mr K. Anji Reddy, Chairman of Dr Reddy's Laboratories, addressing the annual general meeting in Hyderabad on Thursday. -- P.V. Sivakumar

Say move will benefit small investors

Some shareholders of Dr Reddy’s have asked the management to split equity shares.

At the 27th annual general meeting of the Hyderabad-based company held here on Thursday, many investors said share split would help small investors as the stock was trading at a 'high' price.

Addressing the shareholders, Dr K. Anji Reddy, founder-Chairman of the company, said research and development efforts will be stepped up for a ‘greater’ impact on near-term earnings.

Work was in progress on over 20 products including new chemical entities (NCE).

“The foremost in the NCE programme is CETP inhibitor which has recently moved to phase e-trials,” Dr Reddy said.

Mr G.V. Prasad, Chief Executive Officer, said in the present year focus would be on increasing operational efficiencies and creation of new capacities.

“The work on special economic zone project is on. It will be commissioned by end of this year,” he added.

Dr Reddy's net profit increased 25 per cent to Rs 262 crore in the first quarter ended June, 2011.

Published on July 21, 2011
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