Dr Reddy's shares dropped 6.1 per cent to Rs 2,462.05 at the close on the BSE.
A rating is a measure of a stock's expected performance in a given time period.
The Nifty Midcap index has risen 26% compared to the Nifty which has risen 16.3% in 1 year.
The offer looks lucrative compared to those offered by its peers such as TCS and HCL Tech.
Mutual funds have been selling stakes in some sugar cos over the past three months.
The company reported a 26 per cent rise in standalone profit to Rs 23.8 crore.
Shares of Reliance Industries have risen 13.14% since April 1, when Jio became a paid service.
Some analysts prefer Aurobindo Pharma over Biocon because that stock could see a faster re-rating.
The index serves as a representation of each country's market with 85% representation of m-cap.
Government's clarification that additional excise duty will no longer apply will result in lower taxes.
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