Avoid Ranbaxy at this point of time: Deven Choksey

In an interview with ET Now, Deven Choksey, MD, KR Choksey Securities, shares his views on Ranbaxy Laboratories Ltd.

ET Now: What does one do with Ranbaxy?

Deven Choksey: Unfortunately, one after another plants are coming into the problem. I do not know how much one could believe in the entire saga, wherein the companies keep on claiming that they are not wrong. Probably they are finding themselves difficult to penetrate the overseas market.

In this kind of a situation, one would not be very comfortable taking a call on a particular company or a list of companies. In case of Ranbaxy, things are looking a little bit dicey at this point of time.

It will take a little longer time compared to the earlier expectations as far as the company coming back on track is concerned. I would stay away from the counter. I would rather concentrate on some of the promising stories like Cipla and Sun Pharma where the growth prospects are emerging a little better going forward as well.