Market expert Prakash Diwan in an interview to CNBC-TV18 shared his outlook on the market and specific stocks/sectors.
Talking about the pharma space he said it is a bit early for it to start giving a secular uptrend. “It has still got room before the consolidated phase gets over and we see some incremental institutional buying,” he said, adding that right now one could see some nibbling happening in the space.
On Biocon, he said the fact that the company has got approval for Insulin Glargine form EU Commission and the Australian regulator will help them consolidate their position and market share in this space. “As the economies of scale come up and geographies increase, it will start becoming EPS accretive,” he said, adding that good to buy the stock.
He also spoke about the rationale for being bullish on Delta Corp.
Weak global cues and expiry day jitters play spoilsport on Dalal Street with the Sensex going below 33,000 in the March series and both Sensex and Nifty losing over 2 percent.
Diwan said maybe the April series could start on a better note because the rollovers have been mostly on the long side in some of the active counters. The close of March series may not determine the course for April series, he said.