Analysts Upgrade Ratings for Dr Reddy's, Rallis India, Gujarat Gas Post Q3 Results

• CLSA upgraded Dr Reddy's Laboratories to 'Hold' with a target of ₹1,210, citing strong growth in emerging markets and India.
• Dr Reddy's Q3 revenue and profit surpassed expectations, despite a decline in US Revlimid sales; Semaglutide identified as a new revenue driver.
• HSBC upgraded Rallis India to 'Buy' with a target of ₹300, noting better-than-expected Q3FY26 performance across all segments.
• Rallis India's business transformation is expanding to seeds and exports, with improving earnings visibility and a recent 35% share price decline.
• CLSA upgraded Gujarat Gas to 'Hold' with a target of ₹375, as strong unit margins offset a slight volume miss in Q3, with expected volume recovery.

Why It Matters: Brokerage firms upgraded ratings and targets for Dr Reddy's, Rallis India, and Gujarat Gas after strong Q3 results.