Post Q1, which stocks hit & missed in the pharma sector

In an interview on CNBC-TV18, Sarabjit Kour Nangra, VP - Research, Angel Broking Ltd and Manoj Garg, Institutional Equities - Research, Edelweiss Securities give a detailed view on how to play select stocks in the pharma sector.

Below is a verbatim transcript of their interview with CNBC-TV18's Latha Venkatesh and Anuj Singhal. For complete details watch the accompanying video. Q: What is your bit hit of the current result season? Nangra: Undoubtedly, the biggest hit across the board post the results within the pharma space among largecaps so far has been Sun Pharmaceuticals. They have positively surprised in terms of the margins. Even though on a YoY basis, margins dipped which was expected but on QoQ basis, they have been able to increase the margins which was bit of a positive surprise and which resulted in Sun Pharma outperforming in terms of expectations on the net profit levels. Dr Reddy has positively surprised us on operating margins. Rest of the numbers are more or less inline with our expectations. Also Read: Piramal sees revival in CRAMs, growth in OTC biz Q: What is your Sun target price? Nangra: Right now on Sun we are neutral because we don