Pfizer looks good

Shah told CNBC-TV18, "We have got almost 16% weightage to MNC pharma in our model portfolio. The stocks we like are Pfizer, which actually came down from levels of about Rs 1200 to levels of about Rs 700 and is now recovering. The stock is quoting at about 22 times the current year earnings, so that looks good."

He further added, " Novartis India , which came down from levels of about Rs 625 to Rs 440 or so is also showing lot of strength and the stock is also very undervalued at about Rs 470 levels. It is quoting just about 20 times or so the current year earnings."