Buy Ranbaxy Laboratories, says Rajesh Jain, EVP Reatail Research, Religare Sec.
Jain told CNBC-TV18, "Ranbaxy had fallen a lot in the clearing gone by. It is near to its important support level of Rs 460 from where it bounces. Also it is a defensive stock being a pharma play. One can buy it at current prices, keeping a closing stop loss of Rs 460 for target of Rs 490 plus in coming days."
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