Hold Sun Pharmaceutical Industries, says Pankaj Jain

Pankaj Jain, Director at Sunteck Wealthmax Capital Pvt Ltd told CNBC-TV18, "The large cap pharmaceutical stocks have become a no-brainer kind of stock. You don’t have to use large number of your grey cells to buy into these kinds of stocks. Anywhere you buy these stocks on any major dip soon you get about 3-5 percent return and no sooner do you book your profits that you feel that you have done something wrong and you want to re-enter these stocks. That is the psychology going in these stocks and Sun Pharmaceutical Industries is leading that psychology.”

He further added, “On fundamental basis stock is doing exceedingly well. It recently came out with their Q4 results, beautiful set of numbers. Company is growing at about 25 percent plus and they are thinking of acquiring a German company. So, all in all most of the brokerage houses, most of the foreign funds have upgraded this stock and we believe the target is closer to Rs 1250 for next three to six months kind of thing. So, all in all you got to stay with the stock, stock is doing exceedingly well, sector is doing exceedingly well and we have seen that Sun Pharma is leading that pack.” “Coming back to apart from Sun Pharma where else could you put in your money, what we have been recommending apart from Sun Pharma is Glenmark Pharma and Ipca Labs. These are the two stocks which we have been actively recommending apart from Sun Pharma and Dr Reddys. So, these are the two stocks which the viewers can take a look at. Sun Pharma as I said one has to stay with it and carry on with the position whatever has been taken.”