Dr Reddy’s rises 2% on plans to buy 26% stake in O2 Renewable Energy

Shares of Dr Reddy’s have risen over 22 percent year-to-date on the back of a strong momentum in the pharma sector, easing price erosion in the US and expectations of improving margins.

‘);
$(‘#lastUpdated_’+articleId).text(resData[stkKey][‘lastupdate’]);

//if(resData[stkKey][‘percentchange’] > 0){
// $(‘#greentxt_’+articleId).removeClass(“redtxt”).addClass(“greentxt”);
// $(‘.arw_red’).removeClass(“arw_red”).addClass(“arw_green”);
//}else if(resData[stkKey][‘percentchange’] < 0){
// $(‘#greentxt_’+articleId).removeClass(“greentxt”).addClass(“redtxt”);
// $(‘.arw_green’).removeClass(“arw_green”).addClass(“arw_red”);
//}
if(resData[stkKey][‘percentchange’] >= 0){
$(‘#greentxt_’+articleId).removeClass(“redtxt”).addClass(“greentxt”);
//$(‘.arw_red’).removeClass(“arw_red”).addClass(“arw_green”);
$(‘#gainlosstxt_’+articleId).find(“.arw_red”).removeClass(“arw_red”).addClass(“arw_green”);
}else if(resData[stkKey][‘percentchange’] < 0){
$(‘#greentxt_’+articleId).removeClass(“greentxt”).addClass(“redtxt”);
//$(‘.arw_green’).removeClass(“arw_green”).addClass(“arw_red”);
$(‘#gainlosstxt_’+articleId).find(‘.arw_green’).removeClass(“arw_green”).addClass(“arw_red”);
}

$(‘#volumetxt_’+articleId).show();
$(‘#vlmtxt_’+articleId).show();
$(‘#stkvol_’+articleId).text(resData[stkKey][‘volume’]);
$(‘#td-low_’+articleId).text(resData[stkKey][‘daylow’]);
$(‘#td-high_’+articleId).text(resData[stkKey][‘dayhigh’]);
$(‘#rightcol_’+articleId).show();
}else{
$(‘#volumetxt_’+articleId).hide();
$(‘#vlmtxt_’+articleId).hide();
$(‘#stkvol_’+articleId).text(”);
$(‘#td-low_’+articleId).text(”);
$(‘#td-high_’+articleId).text(”);
$(‘#rightcol_’+articleId).hide();
}
$(‘#stk-graph_’+articleId).attr(‘src’,’//appfeeds.moneycontrol.com/jsonapi/stocks/graph&format=json&watch_app=true&range=1d&type=area&ex=’+stockType+’&sc_id=’+stockId+’&width=157&height=100&source=web’);
}
}
}
});
}

$(‘.bseliveselectbox’).click(function(){
$(‘.bselivelist’).show();
});

function bindClicksForDropdown(articleId){
$(‘ul#stockwidgettabs_’+articleId+’ li’).click(function(){
stkId = jQuery.trim($(this).find(‘a’).attr(‘stkid’));

$(‘ul#stockwidgettabs_’+articleId+’ li’).find(‘a’).removeClass(‘active’);
$(this).find(‘a’).addClass(‘active’);
stockWidget(‘N’,stkId,articleId);
});
$(‘#stk-b-‘+articleId).click(function(){
stkId = jQuery.trim($(this).attr(‘stkId’));
stockWidget(‘B’,stkId,articleId);
$(‘.bselivelist’).hide();
});
$(‘#stk-n-‘+articleId).click(function(){
stkId = jQuery.trim($(this).attr(‘stkId’));
stockWidget(‘N’,stkId,articleId);
$(‘.bselivelist’).hide();
});
}

$(“.bselivelist”).focusout(function(){
$(“.bselivelist”).hide(); //hide the results
});

function bindMenuClicks(articleId){

$(‘#watchlist-‘+articleId).click(function(){
var stkId = $(this).attr(‘stkId’);
overlayPopupWatchlist(0,2,1,stkId);
});
$(‘#portfolio-‘+articleId).click(function(){
var dispId = $(this).attr(‘dispId’);
pcSavePort(0,1,dispId);
});
}

$(‘.mc-modal-close’).on(‘click’,function(){
$(‘.mc-modal-wrap’).css(‘display’,’none’);
$(‘.mc-modal’).removeClass(‘success’);
$(‘.mc-modal’).removeClass(‘error’);
});
function overlayPopupWatchlist(e, t, n,stkId) {
$(‘.srch_bx’).css(‘z-index’,’999′);
typparam1 = n;
if(readCookie(‘nnmc’))
{
var lastRsrs =new Array();
lastRsrs[e]= stkId;
if(lastRsrs.length > 0)
{
var resStr=”;
let secglbVar = 1;
var url = ‘//www.moneycontrol.com/mccode/common/saveWatchlist.php’;
$.get( “//www.moneycontrol.com/mccode/common/rhsdata.html”, function( data ) {
$(‘#backInner1_rhsPop’).html(data);
$.ajax({url:url,
type:”POST”,
dataType:”json”,
data:{q_f:typparam1,wSec:secglbVar,wArray:lastRsrs},
success:function(d)
{
if(typparam1==’1′) // rhs
{
var appndStr=”;
//var newappndStr = makeMiddleRDivNew(d);
//appndStr = newappndStr[0];
var titStr=”;var editw=”;
var typevar=”;
var pparr= new Array(‘Monitoring your investments regularly is important.’,’Add your transaction details to monitor your stock`s performance.’,’You can also track your Transaction History and Capital Gains.’);
var phead =’Why add to Portfolio?’;
if(secglbVar ==1)
{
var stkdtxt=’this stock’;
var fltxt=’ it ‘;
typevar =’Stock ‘;
if(lastRsrs.length>1){
stkdtxt=’these stocks’;
typevar =’Stocks ‘;fltxt=’ them ‘;
}

}

//var popretStr =lvPOPRHS(phead,pparr);
//$(‘#poprhsAdd’).html(popretStr);
//$(‘.btmbgnwr’).show();
var tickTxt =’‘;
if(typparam1==1)
{
var modalContent = ‘Watchlist has been updated successfully.’;
var modalStatus = ‘success’; //if error, use ‘error’

$(‘.mc-modal-content’).text(modalContent);
$(‘.mc-modal-wrap’).css(‘display’,’flex’);
$(‘.mc-modal’).addClass(modalStatus);

//var existsFlag=$.inArray(‘added’,newappndStr[1]);
//$(‘#toptitleTXT’).html(tickTxt+typevar+’ to your watchlist’);
//if(existsFlag == -1)
//{
// if(lastRsrs.length > 1)
// $(‘#toptitleTXT’).html(tickTxt+typevar+’already exist in your watchlist’);
// else
// $(‘#toptitleTXT’).html(tickTxt+typevar+’already exists in your watchlist’);
//
//}
}

//$(‘.accdiv’).html(”);
//$(‘.accdiv’).html(appndStr);
}
},
//complete:function(d){
// if(typparam1==1)
// {
// watchlist_popup(‘open’);
// }
//}
});
});
}
else
{
var disNam =’stock’;
if($(‘#impact_option’).html()==’STOCKS’)
disNam =’stock’;
if($(‘#impact_option’).html()==’MUTUAL FUNDS’)
disNam =’mutual fund’;
if($(‘#impact_option’).html()==’COMMODITIES’)
disNam =’commodity’;

alert(‘Please select at least one ‘+disNam);
}
}
else
{
AFTERLOGINCALLBACK = ‘overlayPopup(‘+e+’, ‘+t+’, ‘+n+’)’;
commonPopRHS();
/*work_div = 1;
typparam = t;
typparam1 = n;
check_login_pop(1)*/
}
}

function pcSavePort(param,call_pg,dispId)
{
var adtxt=”;
if(readCookie(‘nnmc’)){
if(call_pg == “2”)
{
pass_sec = 2;
}
else
{
pass_sec = 1;
}
var postfolio_url = ‘https://www.moneycontrol.com/portfolio_new/add_stocks_multi.php?id=’+dispId;
window.open(postfolio_url, ‘_blank’);
} else
{
AFTERLOGINCALLBACK = ‘pcSavePort(‘+param+’, ‘+call_pg+’, ‘+dispId+’)’;
commonPopRHS();
/*work_div = 1;
typparam = t;
typparam1 = n;
check_login_pop(1)*/
}

}

function commonPopRHS(e) {
/*var t = ($(window).height() – $(“#” + e).height()) / 2 + $(window).scrollTop();
var n = ($(window).width() – $(“#” + e).width()) / 2 + $(window).scrollLeft();
$(“#” + e).css({
position: “absolute”,
top: t,
left: n
});
$(“#lightbox_cb,#” + e).fadeIn(300);
$(“#lightbox_cb”).remove();
$(“body”).append(”);
$(“#lightbox_cb”).css({
filter: “alpha(opacity=80)”
}).fadeIn()*/

$(“.linkSignUp”).click();
}

function overlay(n)
{
document.getElementById(‘back’).style.width = document.body.clientWidth + “px”;
document.getElementById(‘back’).style.height = document.body.clientHeight +”px”;
document.getElementById(‘back’).style.display = ‘block’;
jQuery.fn.center = function () {
this.css(“position”,”absolute”);
var topPos = ($(window).height() – this.height() ) / 2;
this.css(“top”, -topPos).show().animate({‘top’:topPos},300);
this.css(“left”, ( $(window).width() – this.width() ) / 2);
return this;
}
setTimeout(function(){$(‘#backInner’+n).center()},100);

}
function closeoverlay(n){
document.getElementById(‘back’).style.display = ‘none’;
document.getElementById(‘backInner’+n).style.display = ‘none’;
}
stk_str=”;
stk.forEach(function (stkData,index){
if(index==0){
stk_str+=stkData.stockId.trim();
}else{
stk_str+=’,’+stkData.stockId.trim();
}
});

$.get(‘//www.moneycontrol.com/techmvc/mc_apis/stock_details/?classic=true&sc_id=’+stk_str, function(data) {
stk.forEach(function (stkData,index){
$(‘#stock-name-‘+stkData.stockId.trim()+’-‘+article_id).text(data[stkData.stockId.trim()][‘nse’][‘shortname’]);
});
});

function redirectToTradeOpenDematAccountOnline(){
if (stock_isinid && stock_tradeType) {
window.open(`https://www.moneycontrol.com/open-demat-account-online?classic=true&script_id=${stock_isinid}&ex=${stock_tradeType}&site=web&asset_class=stock&utm_source=moneycontrol&utm_medium=articlepage&utm_campaign=tradenow&utm_content=webbutton`, ‘_blank’);
}
}

Shares of Dr Reddy’s Laboratories rose around 2 percent in early deals on July 17 after the company announced signing a pact for buying a 26 percent stake in special purpose vehicle O2 Renewable Energy IX Private Limited.

The pharma major has entered into an agreement with TEQ Green Power XI Pvt Ltd and O2 Power SG Pte Ltd for buying a stake in the renewable energy firm.  The company will have a 26 percent stake in the SPV and the rest will be held by TEQ Green Power XI.

The investment is focused on securing consumption and supply of renewable energy through solar and wind power plants through (Inter-State Transmission System) ISTS under the captive structure.

At 10.16 am, shares of Dr Reddy’s Laboratories were trading at Rs 5,176.15, up 1.7 percent on the National Stock Exchange.

Follow our live blog for all the market action

Meanwhile, investors are looking forward to the drugmaker’s quarterly results, set to be released on July 26. Most brokerages anticipate an improvement in the drug maker’s earnings for the April-June period, aided by a strong contribution from sales of the generic of blockbuster drug, Revlimid, and a robust growth in the US market.

Brokerage firm Prabhudas Lilladher expects Dr Reddy’s operating margins to expand 582 basis points on year to 23.5 percent in April-June, while topline is likely to grow 17.5 percent on year to Rs 6,129.50 crore.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.​​​​​​​​​​​​​​​​​​​​​​​​​​​​​