Buy Ranbaxy Laboratories at lower level: Deven Choksey

Deven Choksey of KR Choksey Shares told CNBC-TV18, "Per se Ranbaxy Laboratories is looking more promising than earlier after Sun Pharma’s deal and probably they are getting merged into Sun Pharma. More importantly Ranbaxy has got some of the first two filed product which is likely to give good amount of benefit once the management is fully installed as far as Ranbaxy is concerned. The negative news is there but I would consider that this could be an opportunity to buy at lower levels. Probably considering the fact that this is going to be part of Sun Pharma eventually and the merger is already announced, so to a greater extent confidence level remains high."

At 11:27 hrs Ranbaxy Laboratories was quoting at Rs 650.15, down Rs 4, or 0.61 percent. It has touched an intraday high of Rs 656.80 and an intraday low of Rs 623.