Atul Badkar, VP - Institutional Equities - Derivatives Desk at Edelweiss Securities told CNBC-TV18, "In Ranbaxy the news that came out yesterday or the day before yesterday was the only negative that we were expecting in the stock and from here onwards quite a bit of negatives have already been priced in."
He further added, "Going forward we expect margins to expand. Fundamentally, we have a buy on the stock and even technically it has been consolidating in that range and we were bullish a little earlier than yesterday’s move, but even from these levels I think Rs 475 is very easily gettable, so like a 4-5 percent upside within the entire pharma pack, not just from a trading perspective but even fundamentally we believe Ranbaxy should be like a hold in the portfolio."
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