Don't see upmove in pharma space: Amit Gupta

Don't see upmove in pharma space, says Amit Gupta, Chief Manager- Derivatives - ICICI Securities.

Gupta told CNBC-TV18, "Piramal Healthcare has seen lot of short built up before and the trend is not getting any reversal. Infact, if you look at the whole pharma pack, we have not seen that much of reversal infact. The guys, they are going out from this defensive pack and they are going into the more into the infra midcap space or into the technology space where the momentum is there. So for the time being pharma pack is lagging behind and we may not see that much of sharp up moves atleast in the short-term."
Piramal Health trailing 12-month (TTM) EPS was at Rs 614.58 per share. (Dec, 2010). The stock's price-to-earnings (P/E) ratio was 0.71. The latest book value of the company is Rs 71.80 per share. At current value, the price-to-book value of the company was 6.12. The dividend yield of the company was 1.23%.