Dr Reddy's falls on concerns Q3 results may miss estimates

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SymbolPriceChange
DRREDDY.NS2,613.00+47.10
MFGLQ0.0250.000
SNI75.05+0.46

Reuters Market Eye - Shares in Dr Reddy's Laboratories(NSI:DRREDDY.NS - News) fall 2.1 percent on worries the drug maker will post lower-than-expected October-December earnings, due later in the day.

Margins are also expected to see significant erosion, several dealers add.

Dr Reddy's could miss consensus earnings per share (EPS) estimates by 6 percent in the October-December quarter, according to Thomson Reuters StarMine SmartEstimate data, which measures the forecasts from top-ranked analysts against wider forecasts. * StarMine SmartEstimate suggests EPS for the quarter ending December at 26.03 rupees compared with mean estimate of 27.89 rupees.

(Reporting by Abhishek Vishnoi)