Buy Ranbaxy Labs; target of Rs 575: Panda

Jitendra Panda, Future Capital is of the view that one can buy Ranbaxy Laboratories at current levels with a target of Rs 575.

Panda told CNBC-TV18, “Ranbaxy one can buy at current levels. It is looking good and we can keep a trading stop loss at Rs 550 levels. We could see a target of Rs 575. We have seen good open interest developing there. Open interest on the overall sector has been doing well on the long side. Ranbaxy is one pick in the pharma sector which looks good.”