Ranbaxy is a 'sell' call: Gaurang Shah, Geojit BNP Paribas Financial Services

In a chat with ET Now, Gaurang Shah, Asst VP, Geojit BNP Paribas Financial Services, shares his views on the pharma pack.

ET Now: What is the view on Ranbaxy right now at 350, 7% up?

Gaurang Shah: There is no need to get too excited on the 7% up tick because we really never know when the next USFDA warning comes. So we have a decisive sell call. It is not surprising that it went down from 450 to close to about 250, then pulled back to about 350, then again went down to about 320-300 levels and we are seeing a pullback.

In the pharma sapce, Dr Reddy’s, Sun Pharma, Lupin, Glenmark, Cipla, Strides Arcolab and Divi's Laboratories are among the frontline names.