Ashu Madan, President, Core Client Group of Religare Securities told CNBC-TV18, "Nothing supports to hold Orchid Chemicals. If we look at other stocks in the pharma space, they are at all-time highs and this is almost at an all-time low. So with this kind of a divergent it speaks for itself. We don't even need an analyst to answer this."
He further said, "Results are bad. Quarter-on-quarter there is a stress, there are concerns regarding debt and overall earnings of the company. So, it is a definite avoid from me." Also Read: Orchid soars 10% on USFDA's clean chit to Chennai plant
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