SP Tulsian positive on Ranbaxy Labs

Tulsian told CNBC-TV18, “Pharma stocks, I don’t know the reason for sudden spurt in the Astrazeneca because it has really moved up at 11 O’Clock, till then it was languishing or was up by about 5-7%.”

He further added, “Whether I attribute that for any delisting move initiated because of the promoter stake of 90% held in the company. But by and large the pharma stocks have been ruling quite strong, whether you talk of Ranbaxy, Wockhardt, Biocon or may be Lupin which was ruling at about Rs 500-505 may be in last week, now is ruling at Rs 525. So, overall positive view, but I will keep my positive stance on Ranbaxy from here on which can move to about Rs 510 in this series."

" Coal India , confusion in respect of the ramping up of their production because there has been news that they may have to go for import to comply or to meet their commitments and all that. So maybe some disappointment or could be the profit booking because generally the range of the stock has been anywhere in the range of Rs 310-315 to about Rs 345-350 and the moment it reaches to the level of Rs 340 or crosses that we see the automatic profit booking coming back for some reason or the other. So maybe this could just be a profit booking or maybe some nervousness on account of the deficit in the ramping up of their targeted production.”