Ranbaxy Labs looking strong after results
Ranbaxy Labs has announced better than expected results. Market experts believe that the stock may see a re-rating in near term. Pharmaceutical stocks have not participated in the recent stock market rally.
There are many concerns regarding Pharmaceutical companies. The fundamentals are looking good, but the sentiment isn't very strong about companies in this sector. There are issues with patents and generic medicine legal cases.
Ranbaxy is looking good at current levels. The stock may touch 460 levels very soon. The medium term outlook is good. If the stock markets remain strong, the stock may touch a 52-week high in year 2008.