May 14, 2013 06:10 PM IST | Source: CNBC-TV18

Hold Dr Reddys Laboratories: Prakash Diwan

One can hold Dr Reddys Laboratories, says Prakash Diwan, Chief Portfolio Strategist of Prakash Diwan's Wealth Circle, ECR.

Prakash Diwan, Chief Portfolio Strategist, Prakash Diwan's Wealth Circle, ECR told CNBC-TV18, "This is the beginning of a very strong momentum in Dr Reddys Laboratories. If one looks at the changes in the management which they have announced recently are people who actually hold a lot of promising potential in terms of taking the company forward. The company’s pipeline also is significantly stronger."

He further added, "The best point is the valuations, I don’t think valuations are stretched as compared to Sun Pharma or a Cipla or a Lupin relatively. I think the investor should hold on. Wait for another 20-25 percent of an upside in the next 9 to 12 months if the investor is patient enough."

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