Thursday, 6 November 2008

Exit Panacea Biotech, says R Shah

Rajen Shah of Angel Broking is of the view that one can exit Panacea Biotech and get into something better than this.

Shah told CNBC-TV18, "One should exit Panacea Biotech. I think there are better opportunities in the pharma space than Panacea. The company has reported absolutely dispel numbers in Q2 and there is a huge net loss and even the first half the company has reported Rs 10 crore of loss vis-à-vis about Rs 80 crore of profit. So the performance is going to be impacted even in the Q3 and Q4. I think the stock could drift to maybe Rs 120 levels or so. So I would advices to book losses and exit this space and get into something better than this."

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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DISCLAIMER: The author is not a registered stockbroker nor a registered advisor and does not give investment advice. His comments are an expression of opinion only and should not be construed in any manner whatsoever as recommendations to buy or sell a stock, option, future, bond, commodity, index or any other financial instrument at any time. While he believes his statements to be true, they always depend on the reliability of his own credible sources. The author recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction, before making any investment decisions, and that you confirm the facts on your own before making important investment commitments.