Exit Ranbaxy Laboratories, says Phani Sekhar

Phani Sekhar of Angel Broking told CNBC-TV18, "This import alert I believe is more serious than the first run. What is more important is after the Ponta Sahib import alert now Mohali facility has come under scanner. Within a short span of time these two facilities which had supply a large part of their produce to the US coming under scanner will seriously threaten Ranbaxy’s prospects in the US and it will be very interesting and critical for the company to see how their market share in the US pans because if that comes under any kind of threat then all the near to medium term prospects of Ranbaxy will be under cloud.”

“From an investors point of view what is happening is certainly not something that can be dismissed as something that happens in the regular course of the business, it is serious. These kind of events will never know where they take, so from a safe side the investor can book out of the stock because the second import alert will seriously threaten the companies prospects in US,” he added.