Dr Reddy's Stock Jumps 4% on Q3 Beat; Brokerages Turn Bullish

• Dr Reddy's Laboratories shares surged over 4% after better-than-expected Q3 FY26 results, despite a YoY profit decline.
• Consolidated net profit fell 14.4% YoY to Rs 1,209.8 crore, but beat Street expectations of Rs 1,070 crore.
• Revenue rose 4.4% YoY to Rs 8,726.8 crore, driven by strong growth in India and emerging markets, offsetting US business weakness.
• Brokerages like HSBC and CLSA turned bullish, citing domestic and emerging market performance, and potential new product approvals.
• HSBC maintained a 'buy' with a target of Rs 1,435, while CLSA upgraded to 'hold' with a target of Rs 1,210.

Why It Matters: Dr Reddy's stock gained over 4% as Q3 results surpassed estimates, leading brokerages to issue positive outlooks.