Buy Ranbaxy Laboratories at Rs 340

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Buy Ranbaxy Laboratories at Rs 340

MK Srivatsan of Darashaw & Company is of the view that one can buy Ranbaxy Laboratories at Rs 340 for long term.

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Excerpts from Markets Midday on CNBC-TV18 Watch the full show » RELATED NEWS Ranbaxy settles dispute with GSK Spanish court ruling against Ranbaxy Buy Ranbaxy; target Rs 490: UBS Research Ranbaxy a better bet, says Shastri Dutta not bullish on Cipla ALSO READ See previous views by MK Srivatsan See what other Experts & Brokerages are saying about Ranbaxy Labs See messages about Ranbaxy Labs Ranbaxy Labs BSE | NSE 28/05/12 Are Mutual Funds betting on Ranbaxy Labs?

MK Srivatsan of Darashaw & Company is of the view that one can buy Ranbaxy Laboratories at Rs 340 for long term.

Srivatsan told CNBC-TV18, "Ranbaxy essential after making a peak of Rs 650 in December 2004 has entered a consolidation phase. In the breakdown in October 2005 has led to a muti-month consolidation phase. Essentially if one is a long-term player then Rs 340 is good level to buy the stock. But then it would run into subtract Rs 450. From a medium term perspective it's a on trending stock, range defined between Rs 340-450 but breakthrough beyond Rs 450 will make it a long term positive from my perspective."

Disclosure: Analyst doesn't hold the above stock.