Exit Sun Pharma, says Ashu Madan

Ashu Madan of Religare Securities told CNBC-TV18, "In Sun Pharmaceutical, the first couple of previous quarters, the first correction which happened was basically, one because of the warning and secondly, because of the merger with Ranbaxy and the outcome of that. But the way it has broken in the last couple of weeks, certainly, it has gone into a very weak zone and probably irrespective of any fundamental, one must exit this stock now, because it certainly looks like there is some inherent weakness which has come into this stock because it is beyond those knee-jerk reaction which was because of the merger results or probably the quarterly results." "It is trying us that something negative and probably we could see much lower levels. Even if we do not see much lower level, probably the upside is really capped and probably one has to hold for a real long term and looking at the way market is poised, there are various other opportunities which can certainly be much more fruitful holding Sun Pharmaceuticals at this point in time. So, I would suggest to exit this stock," he added.