Buy Ranbaxy for trading: Baliga

Buy Ranbaxy at lower levels with trading perspective, says Ambareesh Baliga of Way2wealth.

Baliga told CNBC-TV18, "In Ranbaxy whatever news flows have come seems negative. So clearly you will see the stock reacting and again if you see the last couple of months, the news as far as Ranbaxy is concerned has been more negative than positive. So generally you would see a knee-jerk reaction. But from a trading point of view one could look buying at lower levels for a bounce back."
The company's trailing 12-month (TTM) EPS was at Rs 5.32 per share. (Sep, 2011). The stock's price-to-earnings (P/E) ratio was 89.32. The latest book value of the company is Rs 121.47 per share. At current value, the price-to-book value of the company was 3.91. The dividend yield of the company was 0.42%.