Moneycontrol
Nov 29, 2016 04:26 PM IST | Source: CNBC-TV18

Stay invested in Wockhardt, says Sharmila Joshi

Sharmila Joshi of sharmilajoshi.com is of the view that one may stay invested in Wockhardt.

Sharmila Joshi of sharmilajoshi.com told CNBC-TV18, "The inspection of their plants and those kind of rumours, plus the overall sort of despondency that we see in the pharma sector have really dragged these stocks down, but I think if you look at it in terms of earnings as well as the kind of market that we are in where you would like to buy some kind of defensive play into your portfolio and if you already have a stock like that just stay put with it and as we have seen with this whole rupee situation, we have seen a lot of buying return to IT stocks."

"I think as clarity emerges from this USFDA front you will see buying return to pharma as well, so my advice at this point in time would be to hold and have a slightly longer term view on Wockhardt," she added.
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