Buy pharma stocks, says Dhananjay Sinha

Dhananjay Sinha of Emkay Global Financial Services told CNBC-TV18, "There is a derating that seems to be happening and that is aligned to what is happening to the broader market. So, I think the pharmaceutical stocks have also been correcting and some of the results have not been too robust. So, there is certain disappointment which is happening. So, that is reinforcing the correction.""If you look at the longer term, I would rather be, our position is somewhat overweight on the pharmaceuticals sector and we will maintain that. Key thing is that while there are regulatory issues, you also have positives such as currency depreciation which has been happening and some of these names having a good exposure in the US markets and there are new products that are going to be launched. So, those things are there which will be relevant from a longer term standpoint. So, I would be a buyer on pharmaceutical names," he added.