Quarterly numbers not to impact Ranbaxy: Harendra Kumar

In a chat with ET Now, Harendra Kumar, Managing Director-Institutional Equities, Elara Capital, shares his views on Ranbaxy.

ET Now: What are your views on Ranbaxy earnings and would it materially have any sentimental rub-off on Sun Pharma or do you think the market is going to give that much more weightage to Sun Pharma aloof of what Ranbaxy’s performance is at least this quarter?

Harendra Kumar: Ranbaxy's performance is not a surprise. Most of us were fundamentally negative on the outcome of quarterly numbers. What came as a pleasant surprise was of course the event trigger that Sun Pharma was looking to acquire Ranbaxy.

From now on, it is basically whether in terms of the regulatory action, whether this will pass which most likely it will, so these numbers materially have no impact on the stock at this point of time.