Dutta bearish on Ranbaxy Laboratories

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Dutta bearish on Ranbaxy Laboratories

Devangshu Dutta, Consulting Editor of Living Media is bearish on Ranbaxy Laboratories.

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Excerpts from Your Stocks on CNBC-TV18 Watch the full show » RELATED NEWS Ranbaxy Laboratories continues to fall Ranbaxy Labs to remain under pressure Vijay not bullish on Ranbaxy Stay away from Ranbaxy: Baliga ALSO READ See previous views by Devangshu Dutta 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?

Devangshu Dutta , Consulting Editor of Living Media is bearish on Ranbaxy Laboratories .

Dutta told CNBC-TV18, "I am bearish on Ranbaxy Laboratories at the moment, I would expect the price post open offer, even if there isn't as an immediate steep fall to the Rs 430 levels. I would expect the price post open offer to settle around Rs 464-470, so if you can tender for the open offer at Rs 737, then that obviously makes sense and also because of the time factor there is no chance of buying the share today and going for an open offer. So if you are holding the stock, go with an open offer, if you are not holding the stock probably I would be bearish on it. I would be looking at Rs 475-470 by tomorrow."

Disclosure: Analyst doesn't hold the above stock.