Buy Ranbaxy Laboratories, says Ajay Srivastava

Ajay Srivastava of Dimensions Consulting told CNBC-TV18, " Ranbaxy Laboratories - at a valuation of roughly close to about Rs 14,000 crore one would tend to believe that it has got serious value there and too much of it has been made out in terms of what the USFDA problems are. They are not the small problems, but I think at the point of time of a valuation of Rs 14,000 crore one would tend to believe that you are on the positive side of the cycle, not on the negative side of the cycle."

"They got consumer brands. They got the domestic Indian market. You cut out the international operation for time being, let us assume it becomes zero. It has got a very strong domestic franchise, very profitable franchise. I was an advisor to this company for a long time and let me tell you if you really cut out the international operations the domestic is very, very profitable and the local brands are highly profitable and growing very well," he added.

"At Rs 14,000 crore market cap you would tend to ignore a lot of stuff and say okay now there is time to go long. Maybe the valuation goes down to Rs 12,000 crore which is about 10 percent you go and double your holding. I think it would rather be a buy. I do not think it is a falling knife, because India domestic operation remains strong, good and retail brands remain strong and good."

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