Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "Ranbaxy Laboratories and Jaiprakash Associates are avoids. Ranbaxy is choppy and let it build a base, let it make some attractive buying patterns then we will certainly go and buy it. Same applies to Jaiprakash Associates. One cannot go and short sell it. There maybe nothing left, but it is not a buy. It needs lot more work at current prices to justify saying okay, we want to buy it."
At 14:21 hrs Ranbaxy Laboratories was quoting at Rs 342.70, up Rs 2.25, or 0.66 percent. It has touched an intraday high of Rs 344.95 and an intraday low of Rs 337.75.
The share touched its 52-week high Rs 490.15 and 52-week low Rs 253.95 on 06 January, 2014 and 02 August, 2013, respectively. Currently, it is trading 30.08 percent below its 52-week high and 34.95 percent above its 52-week low. Market capitalisation stands at Rs 14,522.91 crore.
Disclosure: He has no positions in the stock.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
