Ranbaxy not a major front running counter : Prakash Diwan, Networth Stock Broking

Prakash Diwan, Head - Institutional Business, Networth Stock Broking, in a chat with ET Now talks about Ranbaxy.

Do you like Ranbaxy?

There was not much of expectation of sales growth for Ranbaxy because even the last time around when they had announced their Q1 results, they had indicated a flattish growth curve coming ahead. So there has to be this exceptional bid which has really changed their whole bottom line impact and the price probably has been factored in much of informed buying.

But you would see some short covering. So there was not so much of expectation of the results being very great and people probably are kind of now scrambling to get their positions squared off. Going forward, I would expect it to continue with this flattish sales growth and margins of course would be vetted to be seen whether there is any positive impact there as well but otherwise it's not a major front running counter at this moment.