Ranbaxy Labs good for long term: Hitendra Vasudeo

Stock Market analyst Hitendra Vasudeo from stockmechanics.com has suggested a buy call for Pharmaceutical major Ranbaxy. Mr. Hitendra has suggested investors to enter the stock above Rs. 423 for a target of Rs. 471 in short term.

Ranbaxy is currently trading with a gain of 2.5% on NSE at Rs. 421. Pharmaceutical sector has been under performer in 2007. Some companies with robust growth model and consistent performance may outperform in year 2008.

Ranbaxy Labs is looking attractive at current levels for long-term investment. Stockwatch recommended the stock last month for a long-term investment. The stock may soon reach a target of Rs. 465. The long-term target for the stock is Rs. 530.

On February 19, 2008 Ranbaxy announced that the board of directors has approved the de-merger of drug discovery research unit. Shareholders will get one equity share of Re. 1 each in Ranbaxy Life Science Research Ltd. (RLSRL) for every 4 equity shares held in Ranbaxy.

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