Hold Ipca Laboratories: Pankaj Jain

Pankaj Jain, Director, Sunteck Wealthmax Capital Pvt Ltd told CNBC-TV18, "Ipca Laboratories is part of that outperforming pharmaceutical sector and within that outperforming sector Ipca Lab is definitely a senior member. The kind of performance Ipca has given in the last say 12-18 months consistently the stock has traveled above 20 Day Moving Average (DMA) and that shows the kind of strength stock has and if we see the fundamentals of the stock, company has been growing at plus 20 percent. They are basically into formulations business and that’s a high margin kind of business, 50 percent of their revenues are from exports."

He further added, "On all fronts company has been doing exceedingly well. They have a very strong research and development (R&D) department. So taking all these factors into consideration, taking the kind of tailwinds that is aiding this sector and this stock I don’t see any reason why one should quit immediately. We have a short-to-medium term target for this stock at levels closer to Rs 650. So, as of now I will still stick with the stock."