Ranbaxy Labs top pick in pharma space, says Kulkarni

Shardul Kulkarni, Angel Broking is of the view that, Ranbaxy Laboratories is looking strong in pharma space, which is having target of Rs 575-580.

Kulkarni told CNBC-TV18, "I am bullish on Ranbaxy Laboratories, not to a great extent on Sun Pharmaceutical Industries. As a stock I think Ranbaxy has far more potential to go further. Rs 575-580 would be the target price that I would look at in case of Ranbaxy." He further added, "In case of Glenmark Pharma the overall chart structure is looking bullish. The small resistance comes in at Rs 428. If Glenmark can take out Rs 428 over the next 3-4 days then I think that stock has the strong potential to move to around Rs 445-450. The only thing is a small resistance doest exists at Rs 428, so one should keep that at the back of your mind." Disclosure: We have positions in stocks discussed and have recommended them to our clients.