Prefer midcap companies like Divis Laboratories, Glenmark, Cipla over Ranbaxy: Gaurang Shah
As a brokerage house we have a reduced recommendation on Ranbaxy and our target on the lower side : As low as 360 or 365.
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| Updated: Gaurang Shah, Asst VP, Geojit BNP Paribas Financial Services in a chat with ET Now gives his views on Ranbaxy
ET Now: What is your call on Ranbaxy?
Gaurang Shah: The numbers did come out better than what one would have expected. But, the problem is that above 500 and close to 525-550, you have the tops reaching for Ranbaxy. Unfortunately, over the last couple of months, close to these levels, there is some negative news coming out and the stock goes into a tailspin.
As a brokerage house we have a reduced recommendation on Ranbaxy and our target on the lower side : As low as 360 or 365. As a stock pick, in the pharma pack, we like Strides Arcolab, Divis Laboratories, Glenmark, Cipla and Sun Pharma. So we would rather concentrate on the midcap companies in the pharma pack.
ET Now: What is your call on Ranbaxy?
Gaurang Shah: The numbers did come out better than what one would have expected. But, the problem is that above 500 and close to 525-550, you have the tops reaching for Ranbaxy. Unfortunately, over the last couple of months, close to these levels, there is some negative news coming out and the stock goes into a tailspin.
As a brokerage house we have a reduced recommendation on Ranbaxy and our target on the lower side : As low as 360 or 365. As a stock pick, in the pharma pack, we like Strides Arcolab, Divis Laboratories, Glenmark, Cipla and Sun Pharma. So we would rather concentrate on the midcap companies in the pharma pack.
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