Thanks a lot Hiteshbhai. This helps.
I believe Ranbaxy was far more serious than just long delays, almost bordering on scandal, forgery unlike cases of Ipca, Wockhardt, Sun Pharma wherein it seems, at least as of now, to be cases of genuine inordinate delays which is expected.
Can't agree more on this. I think Pricing it right is very important as it will help one wait more for the turnaround. Extreme pessimism should reflect in the price but the same is not happening fully I think due to excess liquidity. I know it's tricky but do you have any handle/pointers on this in terms of absolute valuation? I think assets seem to be a good measure to value the same as sales/earnings would swing wildly. is 2x Assets/Book safe price to pay with limited downside or it's too conservative as many are quoting at far better multiples?