Mar 22, 2013, 05.32 PM | Source: CNBC-TV18
Aashish Tater, Head of Research at Fortunewizard.com advised holding Ranbaxy Labs from a medium to long term perspective.
Aashish Tater (more)
Head of Research, Fortunewizard.com | Capital Expertise: Equity - Technical ,Equity - Fundamental
Tater told CNBC-TV18, "Fundamentally if you see Ranbaxy is very difficult to track on quarterly results basis because there is lot of wide fluctuation in the result due to extraordinaries that the company posts normally. In the last quantitative pattern that we were looking at, it is like the stock comes around at Rs 400 odd mark, spends weeks time and then again bounces back by 10-12 percent around Rs 440-445 mark. This has happened at least 4 times in a year.”
“So, what she can do is, she can go in for a trade where she books some minor losses around Rs 435-440 odd mark and then again reenter around that Rs 400 odd mark. Given Ranbaxy is a hold from our side from a medium to long term perspective she can continue even holding the stock otherwise too,” Tater added.
He further said, “Rs 495 would be a good target for the stock which is roughly 12-14 percent upside from current levels.”