Buy Cipla on declines; may test Rs 750: Nooresh Merani

Nooresh Merani, CEO at Analyse India told CNBC-TV18, "The pharmaceutical space has become the hero of this bull market wherein you see a lot of stocks doubled up in the last few months. One of the picks which have not worked up well in the last few months is FDC which we like at current levels. The stock has broken out into all time highs, so zone of Rs 150-160 is a good buying area."

He further added, "I continue to like Cipla and it was our top pick two-three months back when it made a good base around Rs 370-430 zone. I would be looking towards longer term target price of Rs 750 on Cipla and any decline to Rs 520 to Rs 550 would be a buying zone."