Book profits in Granules India, says Shahina Mukadam

Shahina Mukadam, Independent Market Expert told CNBC-TV18, "I would recommend booking profits in Granules India. I think it will find some resistance at closer to these levels, say Rs 150 type of levels. Basically given the fact that this is based on pure valuations, which are now running expensive, at one year forward FY18 valuation at about 18 times multiple, it is in-line with some of the larger pharmaceutical companies which have in fact -- the prices have come off for the larger companies in the last one year."

"One should move from Granules to some larger company where a lot of these FDA issues are being resolved. So, I think the opportunity to make a good return on the larger pharmaceutical companies from hereon is much higher. I think Granules given the numbers also I expect to be flattish in terms of revenues and slow profit growth. So, I would recommend switch from here to some larger pharmaceutical company," she added.