Shardul Kulkarni of Angel Broking told CNBC-TV18, "Ranbaxy Laboratories has clearly fallen off the cliff and post that particular strong fall from Rs 480 to Rs 360 levels we are seeing that the stock is giving a pullback. I would expect this particular pullback to last for the next probably 8-10 trading sessions."
He further added, "Anyone who has been holding on to short positions or has rolled them over into the June series is advised to exit from short positions in case of Ranbaxy. Stock can pullback towards Rs 405-410 over the next couple of trading sessions." On June 04, Ranbaxy Labs closed at Rs 378.35, up Rs 16.00, or 4.42 percent. It touched a 52-week low of Rs 357.20.Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
