Shares of Dr. Reddy’s Laboratories surged by over 2 percent, reaching a 52-week high of Rs 6,453.95, following a report by CNBC-TV18 suggesting the company’s interest in acquiring Novartis AG’s stake in Novartis India.

Dr. Reddy’s management has expressed their keenness in acquiring a domestic-focused portfolio during recent earnings calls, further indicating their potential interest in Novartis India.

Switzerland-based pharmaceutical giant Novartis AG initiated a strategic review of its subsidiary, Novartis India, on February 16. This review encompasses Novartis AG’s 70.68 percent shareholding in its Indian arm.

As of 11:20 am, shares of Dr. Reddy’s were trading at Rs 6,421.30 on the NSE.

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