5 Best Indian Stocks For Next 10 Years

4. Dr. Reddy’s Laboratories Limited (NYSE:RDY)

Number of Hedge Fund Holders: 17

Dr. Reddy’s Laboratories Limited (NYSE:RDY) is a pharmaceutical company that operates through Global Generics, Pharmaceutical Services and Active Ingredients, Proprietary Products, and Others segments. The company was incorporated in 1984 and is headquartered in Hyderabad, India. On May 10, Dr. Reddy’s Laboratories Limited (NYSE:RDY) reported a Q4 GAAP EPS of $0.70 and a revenue of $766 million, up 6.85% year-over-year and topping Wall Street estimates by $8.32 million. 

On June 1, Barclays analyst Balaji Prasad raised the price target on Dr. Reddy’s Laboratories Limited (NYSE:RDY) to $70 from $67 and reiterated an Overweight rating on the shares. Barclays believes the U.S. generics market is evolving steadily.

According to Insider Monkey’s first quarter database, 17 hedge funds were bullish on Dr. Reddy’s Laboratories Limited (NYSE:RDY), compared to 16 funds in the earlier quarter. Rajiv Jain’s GQG Partners is the largest stakeholder of the company, with 555,323 shares worth $31.6 million.