Buy Wockhardt on decline: Sekhar

Phani Sekhar, Fund Manager, Angel Broking is of the view that one can buy Wockhardt on decline.

Sekhar told CNBC-TV18, “Wockhardt seems an interesting opportunity because that business seems to be turning around and the best thing going for it is insulated from the problems that are surrounding the broader market in the economy.”
He further added, “Investors can look at Wockhardt but the only thing that can come in the way is that it has rallied so much on the recent past that there is no margin for error at least in the very near term. People who can take that risk for one or two quarters of underperformance which might led to cuts of as high as 15-20 percent in the stock price can look at this stock. But however on the balance I would say it will be good idea still to get into the stock on declines.”