Dr. Reddy’s Laboratories shares rose 3% after the company announced that its wholly-owned US subsidiary, Dr. Reddy’s Laboratories Inc., has entered into an agreement with Jaguar Labs Holdings. The agreement involves the sale of all membership interests of Dr. Reddy’s Laboratories Louisiana LLC (DRLL), including its Shreveport-based manufacturing facility, for a nominal price of $1.
With this transaction, DRLL will cease to be a step-down subsidiary of Dr. Reddy’s Laboratories Limited. The move marks a strategic shift as Dr. Reddy’s refocuses on its core operations, potentially improving future financial performance.
Dr. Reddy’s Laboratories shares opened at ₹1,369.50, hitting a high of ₹1,405.90 and a low of ₹1,358.00 during trading. The stock nears its 52-week high of ₹1,421.49, reflecting strong market performance, while its 52-week low stands at ₹1,104.13.
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