TCS, Infosys, and Dr Reddy’s shares hit fresh record highs

Shares of Dr Reddy’s Laboratories, Tata Consultancy Services (TCS) and Infosys from the S&P BSE Sensex and Nifty50 index hit their respective fresh all-time highs on the bourses on Thursday.

Dr Reddy’s rallied 5 per cent to Rs 4,524 today, surging 12 per cent in the past two trading days after it reported a strong operational performance with EBITDA (earnings before interest, taxes, depreciation, and amortisation) margins expansion of 611 basis points (bps) year-on-year (YoY) to 25.3 per cent in June quarter (Q1FY21). The stock of the pharmaceutical company surpassed its previous high of Rs 4,383 touched on October 20, 2015.

Q1FY21 revenues grew 14.7 per cent YoY to Rs 4,426 crore mainly due to strong growth in Europe (up 47.7 per cent YoY at Rs 355 crore) and RoW markets (up 56.6 per cent YoY at Rs 328 crore)