Dr. Reddy's Laboratories doing well at the markets today

Shares of Dr. Reddy's Laboratories Ltd., a top pharma company, surged to a record high after reporting strong growth in first quarter earnings coupled with a rise in operating margin.

Dr. Reddy's, a part of the Nifty, said said its first quarter profit rose 14 percent to 626 crore rupees compared with 549 crore rupees.

The company's operating margin rose by 290 basis points to 20.5 per cent. Dr. Reddy's sales grew by 7 per cent to 3,758 crores rupees.

As a consequence, Dr. Reddy's surged 3.3 percent, or 129 rupees, to 4,042 rupees on the National Stock Exchange, making it the top gainer on the Nifty. The stock hit a fresh record high on early deals on Friday.

The market capitalisation of Dr. Reddy's has risen 44 percent in one year to 66,640 crore rupees as investors sought to buy into a pharma giant with a global generic footprint and a strong R&D lineage.

(Image credits: Indiatimes)