Launch of generic medicines helps Dr.Reddy’s growth

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The Indian pharmaceutical industry is a predominant player in the global markets as the growth pharmaceutical companies have been increasing along with the industry. One such major player of the industry is Dr.Reddy’s Laboratories, the company has over 190 medications, 60 API’s for drug manufacture, critical care and biotechnology products which makes the company well-established and diversified. The company’s major markets are USA, India, Russia and Europe as the company produces different generic medicines for the countries along with their specifications. The company’s share is also one of the leading stock of the industry as it has an impact on the index. The company’s share price experienced a 10% change in its price as the price of the stock closed at Rs.2894.25 from Rs.2641 which depicted a bullish trend for the stock.




The above graph of Ichimoku cloud Indicator shows a bullish trend for the stock which has been continuing over past 6 months. The formation of green cloud has been consistent and also an upward trend in the cloud can be noticed along with the price movements. The Chikou span line is also indicating an upward trend for the stock and also the base line above the conversion line indicates a buy signal for the stock. It can also be seen that the bullish trend continues despite the Coronavirus outbreak as the sales of its products have been increasing across the country for safety precautions and also to keep stock of the medicines.
The company has been launching generic medicines such as Pyrimethamine tablets, Naloxone Hydrchloride injection and Ziprasidone Mesylate during the outbreak which has been promoting its sales in US. The medicines as very vital and serves a great purpose for schizophrenic patients who suffer from constant difficulty in thinking and behaving normally. The following graph of super trend shows that the shares of the company is in a downward trend as result of the Coronavirus outbreak eventhough the candlesticks are bullish for some trading sessions. The volatility of the stock can be observed as the bullish candlesticks have long head and tail which depicts the fluctuation of the share price. The market has been dynamic over few days with regard to the pandemic, but the steady launches of necessary generic medicines by the company has been boosting the share prices which would last over the upcoming trading sessions

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