Buy Glenmark Pharma, Ipca Labs: Diwan

Prakash Diwan, Prakash Diwan's Wealth Circle is of the view that Glenmark Pharma, Ipca Laboratories both stocks offer very good entry at the current levels.

Diwan told CNBC-TV18, "L&T makes for a decent entry level. Within the midcaps, if you look at some of the results have been pretty good. In pharma I talked about the defensive Glenmark. I don’t think it has yet caught up with the price action it deserve to. The same would go for IPCA Labs. We have heard the management today in terms of clarifying why things were not as robust as we anticipated. But then those are temporary blips which could kind of definitely be overcome in the next couple of quarters. So within the pharma, midcap space also, we believe Glenmark and IPCA - both of them offer very good entry at the current levels."