Expect 20-25% upside in Ranbaxy: R Shah

Rajen Shah of Angel Broking is of the view that one can expect 20-25% upside in Ranbaxy Laboratories over the next 9-12 months.

Shah told CNBC-TV18, "In Ranbaxy Laboratories one will get back the price of Rs 360 in a matter of about six-nine months. The stock has been beaten down badly and now one will see fund again flowing into the hands of those shareholders who actually tended shares at about Rs 737 levels and so maybe many long-term investors would like to buyback shares from the market; it’s available at about Rs 290-295 levels. I think this is not a level to exit it in fact this is not a level to exit many stocks. I think it’s a great level to get into it, maybe can expect about 20-25% upside over the next 9-12 months."

Disclosure: Analyst doesn't hold the above stock.