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

Posted by Harsh at 08:05

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