Divis Lab may hit Rs 1885: Yogesh Mehta

Yogesh Mehta of Motilal Oswal Securities told CNBC-TV18, "On the pharmaceutical space, we have seen rally today in Sun Pharmaceutical Industries, Ranbaxy Laboratories and little bit of Dr Reddy's Laboratories as well. Divis Laboratories is also one of the renowned name. Technically it has given a good breakout above Rs 1750. One can keep a stop loss of Rs 1700 and projected price target could be around Rs 1885."

At 14:40 hrs Divis Laboratories was quoting at Rs 1,737.45, down Rs 36.75, or 2.07 percent. It has touched an intraday high of Rs 1,791 and an intraday low of Rs 1,732.05.