Relatively bullish on Aurobindo Pharma: Tater

Aashish Tater, Head of Research of Fortunewizard.com said they were relatively bullish on Aurobindo Pharma compared to Dr Reddys.

Tater told CNBC-TV18, "We had a neutral rating on Dr Reddys Labs for a target of around Rs 1950. We had actually advised an exit just before results because we expected muted results, but it has disappointed even from our estimates."
"If someone has the patience to actually go and wait for two quarters, because in next two quarters we do not see much of a movement in this stock. Around Rs 1800 levels you will find some support and Rs 1768 is the closing support level for this particular stock beyond which there could be a sell off. At current levels I would just advice to look for better trades into similar sector like Aurobindo Pharma where we are relatively bullish compared to Dr Reddys at current levels," Tater added.