Forex
RBC Ups Stake in Dr. Reddy's Laboratories to $138 Million
Royal Bank of Canada (RBC) has increased its stake in Dr. Reddy's Laboratories Ltd, a multinational pharmaceutical company based in India.
The bank bought an additional 434,805 shares during the first quarter, representing a 4.6% increase in its holdings. RBC now owns about 1.20% of Dr. Reddy's stock, valued at $138 million at the end of the most recent quarter.
This is not the only instance of institutional investors buying into Dr. Reddy's Laboratories; several other funds have also increased their stakes in the company.