Some upside still left in Ranbaxy: VK Sharma, HDFC Securities

In a chat with ET Now, VK Sharma, Head of Business, Private Broking & Wealth Management, HDFC Securities, shares his views on Ranbaxy.

ET Now: Your thoughts on how much more upside can we see from Ranbaxy?

VK Sharma: Ranbaxy reported a surprise profit but that was largely due to the full quarter of Lipitor. But, that period ends on 31st of this month. The profits are not going to grow at the same rate. However, Ranbaxy's problems with the US FDA have been sorted out now and got some plants working. This augurs well for them. There are chances that the stock could still see some more action from the Japanese promoters. Barring that, there is some upside still left in Ranbaxy. We will remain invested in it.