Divis Lab has target of Rs 760: Nooresh Merani

Divis Lab has target of Rs 760, says Nooresh Merani of AMSEC Research.

Merani told CNBC-TV18, "Divis Lab after making a huge rally from Rs 590-840 over the last few months has declined and reduced to 61.8% of this whole rally. Over the last few weeks it has been consolidating in the range of Rs 690-745. Yesterday the stock made a move above Rs 745 giving a short-term breakout, which can head to Rs 770-780 in the short-term. My intraday target for the stock is Rs 760. Traders can keep a stop loss at Rs 732.