Sep 12, 2013, 05.54 PM IST
SP Tulsian of sptulsian.com is of the view that Wockhardt can correct to a level of Rs 600 in the near term; in the next one week or so wherein one should look to buy it.
SP Tulsian of sptulsian.com told CNBC-TV18, " Wockhardt has moved from Rs 450 to Rs 650 in a week or so because last week we have seen they revise the upper circuit or the circuit bands getting revised from 5 to 20 percent, so that has brought the informed buying sources. The stock has really run up so much I won’t advice to buy this at the current level.”
“I have comfort on the company because going forward consideration the faith on the promoters; they have very good corporate governance and they have taken the measures to redress whatever USFDA problems they had in their two Aurangabad plants,” he added.”
“Going forward things are going to be quite good but I won’t advice to buy now. One should keep an eye on the stock. I expect the stock can correct to a level of Rs 600 in the near term in the next one week or so wherein one should look to buy this stock again. But whenever he/she thinks of buying the stock, must have a time horizon of at least six months."
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