Dr Reddy's Laboratories announced that audit of the company's Formulations Srikakulum Plant (SEZ) Unit I, Andhra Pradesh by the USFDA, has been completed on January 15, 2019. The company has been issued a Form 483 with 4 observations.

The stock had underperformed the market over the past one month till Jan. 15, 2019, falling 0.37% compared with the Sensex's 0.99% rise. It outperformed the market in past one quarter, gaining 5.37% as against 4.17% rise in the Sensex.

Shares of the company declined Rs 56.95, or 2.2%, to trade at Rs 2,535.00. The total volume of shares traded was 0 at the BSE (9.02 a.m., Wednesday).