Hold Divis Labs for long term, says Neeraj Deewan

Neeraj Deewan of Quantum Securities told CNBC-TV18, "Definitely the fall has been massive in Divis Labs. We saw 20 percent fall the other day and today again 10 percent. However, after falling so much, I don’t think a long term investor should sell at these prices. It may take some more time, it may see a longer time for recovery, whenever these issues come up with US FDA we have seen the stock languish at lower levels. Maybe they will be there for two to three months, two to three quarters and then they can slowly start going up." "Divis Laboratories is a good company. I am sure they will come out and they will - further two to three quarters down the line and I think you can see better numbers coming in also," he said."However, for long term investors I think it is a hold but short term, it may give you some pain by staying at these levels or maybe falling 3-4 percent from these levels or so."