Feb 25, 2013, 06.56 PM | Source: CNBC-TV18
Ranbaxy Labs can move to Rs 450, says SP Tulsian of sptulsian.com.
SP Tulsian (more)
CEO, sptulsian.com | Capital Expertise: Equity - Fundamental ,IPO
Tulsian told CNBC-TV18, “Ranbaxy Labs is better to wait till you get to see the numbers tomorrow because since we have waited, the stock definitely has corrected to Rs 410. If you really see in month it has corrected by Rs 50. It had a high of Rs 460 and corrected to Rs 410. So obviously that was making a good entry point, but yes, the Lipitor news has been the trigger. So in this situation I will advice that it is better to see the numbers tomorrow.”
He further added, “I don’t think that there is going to be any kind of disappointment and the short covering, which we have seen in the counter can make the stock to move to about Rs 450, but the safe traders should are advised better to wait till we see the numbers tomorrow.”