Buy Wockhardt for short term, advises SP Tulsian

SP Tulsian of sptulsian.com told CNBC-TV18, “I am keeping my positive stance on Sun Pharma and Wockhardt. The Taro effect may largely have factored in into the price of Sun Pharma. Again going forward the kind of grip which we see on the Sun Pharma stock is seen to be quite strong. So that will keep the price robust for the stock in the time to come.”

“However, if I need to choose between two probably I will go with Wockhardt. The kind of pessimism and the liquidations seen in the stock does not warrant. There is going to be a reduction by about 10 percent in the top-line and bottom-line. So, even if you take the conservative estimate the share is now ruling at a PE multiple of less than 8 which makes a good entry point. So, amongst two from a short-term point of view I will go with Wockhardt,” Tulsian said.