Accumulate Lupin for long term: Phani Sekhar

Phani Sekhar of Angel Broking told CNBC-TV18, "The lack of clarity in Lupin on the financial contours is something which is majorly responsible for the correction today. But apart from that at this stage of Lupin it is an excellent deal for them and from a longer term perspective valuations as compared to the nearest comparable rival would be Cipla are not very demanding. So I guess from a longer term perspective it is a good time to accumulate Lupin."

On September 16, 2014 Lupin closed at Rs 1,362.60, down Rs 51.40, or 3.64 percent. It has touched a 52-week high of Rs 1,442.30.