Buy Dr Reddy's Labs, Cipla, Biocon: Sanjiv Bhasin

Sanjiv Bhasin of IIFL told CNBC-TV18, "We have a buy on Dr Reddy's Laboratories and we think levels closer to Rs 2,900-2,950 would give you a fair chance of making money over the next six months. We think you could get almost Rs 3,600 on that as a lot of the FDA issues and most of the weakness of the number gets factored in." "Our other two picks would be Cipla at Rs 475-480 and Biocon. Biocon is our overweight stock where we think again you could get Rs 1,000 plus levels. It is one of the best plays on the biosimilar and the insulin market is doing excellently well. These are three of our stock picks," he said. "We had a trading play on Lupin last time at Rs 1,250 and we again will wait for those levels of Rs 1,250-1,300 because we still think there are too many issues of FDA and the company has tended to overlook that in their statement and a lot of the number crunching has already priced in."