There is no place to hide for the bulls. Weak global cues send the indices tumbling yet again. Nifty closed at 3,861 down 178 points, while the Sensex shut shop at 12,676 down 654 points.

Daljeet Singh Kohli, Head of Research (PCG),Emkay Global Financial Services is positive on Jubilant Organosys and Panacea Biotech.

On Jubilant Organosys:

Jubilant Organosys is a company, which provides end-to-end divisions in drug discovery right from the drug discovery stage to clinical research. The Custom Research and Manufacturing Services, or CRAMS, space is growing in India. India has been well-accepted in all the regulated markets, be it US or Europe, as a place where you can actually outsource your manufacturing.

So, Jubilant Organosys gets the benefit of that and it has been basically growing on that on a very firm note.

For FY08, the company has clocked a turnover of around Rs 2,489 crore primarily coming from the pharma and lifesciences business. It also has an industrial chemicals business but the main growth driver has been the CRAMS business. Just two-three days back, the company has also tied up with a company called Amgen, which is a US-based biotech company. This company will help Jubilant Organosys in new drug discovery.

Panacea Biotech has three-four very important triggers in this year to come and FY10 would be a very big growth year for this company. Recently, it has got a UNICEF and WHO approval on Pentavalent, which is a 501 drug for vaccines basically. The company is also launching an injectable polio vaccine in India. This vaccination opportunity is around USD 475 million and then the Inactivated Polio Vaccines (IPV) is around USD 100 million in India. These tractions will come up in next one-year. So, we will see FY10 EPS growing at around Rs 16 this year to around Rs 30. That gives us a target of Rs 536.

I don’t hold personally any of these stocks, but my company has been recommending to our clients. So, our clients may have positions in them.

Mehraboon Irani of Centrum Broking is bulish on HDFC Bank

Here's how he views the stock:

On HDFC Bank:

I am negative on the banking sector, be it public or private. The concerns are for real and not many of us are able to understand how much further this will continue. They may look attractive in terms of simple parameters like price to book value and such things. We will be around the same ratios, even possibly a month or two or three months later. Unfortunately, many of us buy a stock just because the stock has come down sharply without realizing that the stock deserves to come down and has deservedly come down.

So, I remain negative. In terms of some of the traditional parameters by which you value banking stocks, some of them may look very interesting and very appealing and induce some people to buy. These concerns are going to stay for quite some time. If I had to take a short at any private banks today, the only thing which appeals to me is HDFC Bank stocks which are at Rs 900 to Rs 910. The stocks took a beating of about 11% today.

There is value in this particular stock because we have tracked this stock a bit closely. I am quite confident the company will go at least 25% in the current year. Taking other parameters into account, there is value in HDFC Bank.