According to Ashu Madan, President of core client group at Religare Securities, one should continue to hold Wockhardt. He expects the stock to outperform rest of the market.
Madan told CNBC-TV18, “It is very welcome to see this kind of an investor who is making that kind of money with patience and holding on to this stock. This is commendable.”
He further said, “Incidentally, he is in an excellent investment, still looking good. The new launches that Wockhardt has planned and the way the last couple of launches have been accepted in the market, I think the fundamental view is positive.”
”On technical side also probably if somebody can vouch that it has broken upward levels also and all the resistance level also. The trend is up. So, it is one of the lone or rare brightest spot in this current market. With some realistic stop loss, I would suggest that in this kind of a market with this kind of a performance, one should continue to hold the stock and maybe run his profits even longer, which I expect to outperform the rest of the market,” Madan added.