Stay away from Ranbaxy Laboratories: Deven Choksey

Deven Choksey, MD at KR Choksey Shares & Securities told CNBC-TV18, "Ranbaxy Laboratories is on avoid list. The company is troubled because of higher amount of import regulations which the US Food and Drug Administration (FDA) have imposed and certainly one after another plant is getting in trouble."

"I think better opportunities are available within the pharmaceutical space, so concentrate on that. We have been maintaining our view point that it is an avoid for Ranbaxy for some time and unfortunate incidence of import alert, which has come up today is again validating that view point, so we would stay away from Ranbaxy," he added.