Wednesday 8 October 2008

A Dalal positive on Ranbaxy

Amit Dalal of Amit Nalin Securities is positive on Ranbaxy Laboratories.

Dalal told CNBC-TV18, "I am positive on Ranbaxy and I said this last week also that assuming that the Daiichi takeover goes through and perhaps the news is in that regard looks positive with the share price movement we are seeing today; companies like Daiichi don’t make such big mistakes that they value something at Rs 22,000 crore for 55% of the stake and the market cap is Rs 9,500 crore. Markets usually give some respect to that and some adjustment in valuation. So once the shareholders get back their money and there will be some comfort to the extent that the deal is going through, I think there will be an upside on that stock to perhaps some extent from here."

Disclosure: It is safe to assume that analyst and his clients may have an investment interest in the above stock/sector.

Source: Moneycontrol

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