Indian benchmark equity indices registered record closing highs on Thursday, boosted by prospects of a US interest rate cut in September. The S&P BSE Sensex closed 0.15% higher at 81,867, while the NSE Nifty50 index ended above the 25,000 level.“The crucial hurdle of 25,000-25,100 levels remains intact and the Nifty was not able to break above this area decisively. Chances of further consolidation or minor dip are not ruled out in the short term. Immediate support is at 24750 levels,” said Nagaraj Shetti of HDFC Securities.Here are 6 stock recommendations for Friday:“The underlying trend of Nifty continues to be positive. Having moved above the key overhead resistance of 24,400 levels (1.618% Fibonacci extension), the Nifty could now advance towards another important resistance of 24,960 levels (1.786% Fibonacci extension) in the near term. Immediate support is at 24,250 levels,” said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities.Here are 6 stock recommendations for Wednesday: Stock Ideas

Market Trading Guide: Tata Power, Dr Reddy’s Labs among 6 stock recommendations for Friday - Stock Ideas

A part of this investment will be used to fund the acquisition of Nestle India’s existing medical nutrition and nutraceuticals business.

Nestle India Invests Rs 705 Crore In JV With Dr Reddy’s Labs

On Wednesday, the US Federal Reserve maintained its key interest rate at 5.25–5.5% for the eighth consecutive time, as expected, while signaling the possibility of a rate cut in its next meeting in September. From the Nifty stocks, Power Grid Corporation, Coal India, ONGC, HDFC Bank, and Dr Reddy’s Laboratories were the top gainers, rising 2-4%. On the other hand, M&M, Tata Steel, Hero MotoCorp, Britannia, and Tata Motors ended with cuts.

D-St cheers Fed’s dovish tone: Nifty surges past 25K milestone, Sensex sets new record

The government accused Infosys of evading taxes and sought Rs 32,000 crore ($3.8 billion), or almost all its revenue for the quarter ended June 30. In the last year, India’s goods and services tax department has sent more than 1,000 notices to companies, including Life Insurance Corporation of India, Dr Reddy’s Laboratories and Ultratech Cement.

After $4 billion Infosys demand, India may target other IT majors, source says

Dr Reddy’s Laboratories boosts growth through strategic collaborations and acquisitions in key therapeutic areas, enhancing future prospects.

Shifting Gears: Dr Reddy’s scaling up JVs, inorganic growth to add value, expand market reach

DRL’s growth was primarily driven by the robust performance of the global generics business, particularly in North America and India

Dr Reddy’s Laboratories Q1 result: Net profit dips 0.90%, revenue up 13.88%

Additionally the company has also announced that each American Depositary Share (ADS) will still represent 1 equity share. As a result, the number of ADSs held by each American Depositary Receipt holder will increase in proportion to the increase in equity shares.

Dr Reddy’s Laboratories board announces 1:5 stock split

Dr Reddy’s Laboratories consolidated net profit declines 0.90% in the June 2024 quarter

Here are the earnings estimates of major companies that are scheduled to announce their results on Saturday.

ICICI Bank, Dr Reddy’s Labs, REC, IDFC First Bank Q1 Results Today — Earnings Estimates

Indian drugmaker, Dr Reddy’s Laboratories is all set to deliver its financial performance for the first quarter of financial year 2024-25 (Q1FY25) on Saturday, July 27, 2024

Dr Reddy’s Labs Q1 Preview: Market share loss in products to drag profits

The partnership was made to combine the established reputed range of nutritional products of Nestlé Health Science with the nutraceuticals portfolios of Dr. Reddy’s Labs.

Nestle India And Dr Reddy’s Laboratories Form Joint Venture Company

Hasn't fared well - amongst the low performers

Performance

Seems to be overvalued vs the market average

Valuation

Lagging behind the market in financials growth

Growth

Showing good signs of profitability & efficiency

Profitability

The stock is underpriced and is not in the overbought zone

Current price is less than the intrinsic value

Fundamentals

Good time to consider, stock is not in the overbought zone

Technicals

Entry point

Promoter pledged holding

Unsolicited messages

Default probability

Red flags

Dr. Reddy's Laboratories Limited is a pharmaceutical company that is engaged in providing medicines.