India's Dr Reddy's set for best day since April; Noumra upgrades to 'buy'
** Dr Reddy's Laboratories REDY.NS rises 3.7% to 1,322 rupees; set for biggest intraday pct gain since April
** Nomura upgrades to "buy" from "neutral"; PT at 1,500 rupees
** Says co will likely benefit from strong demand in emerging markets, including India, for active ingredient semaglutide - a weight loss drug - in medium-term, with a potential market size of up to $1 bln
** Adds stock's underperformance vs Nifty pharma index .NIPHARM shows that concerns from high contribution from gRevlimid, whose sales are expected to decline FY26 onwards, have been priced in
** REDY, peer Cipla CIPL.NS rated "hold" on avg; Sun Pharma SUN.NS rated "buy" - LSEG
** YTD, REDY's 14% gain lower than CIPL's ~20% and SUN's ~44% surge; NIPHARM up 34%
Reporting by Kashish Tandon in Bengaluru
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