PN Vijay, Portfolio Manager, www.askpnvijay.com is of the view that one can hold big pharma stocks like Sun Pharma, Ranbaxy Labs for some more time but not to buy these stocks, which have run up a lot.
PN Vijay told CNBC-TV18, “I think a move up in Sun Pharmaceutical is quite limited. To some extent Sun Pharma has been chosen by people. Again because of the risk-off trade and if you look at Ranbaxy Laboratories for example, the type of issue that Ranbaxy had, Sun Pharma doesn’t have even Dr Reddy’s. So Sun Pharma has been a very preferred – I would say – a bear market pick almost getting the type of leg up like Hindustan Unilever is getting but how much longer. I don’t think people would bend over backwards to buy Sun Pharma just because there is a FDA clearance for one of their projects etc. I think the smart trade is not to buy those. We can hold on for some more time but not to buy these big pharmaceutical stocks, which have run up a lot.”Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
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