Buy Sun Pharma Advanced: Mehraboon Irani

Mehraboon Irani, Principal and Head- Pvt Client Group Business at Nirmal Bang Securities told CNBC-TV18, "Selectively market is starting to look at midcap scrips in sectors which have done very well. So, I agree to the view that since most of the frontlines have moved up very sharply people are looking at midcaps. I think it is also happening in IT right now if I am not mistaken at the moment."

"Couple of names which possibly we also like in the pharma pack include Apollo Hospitals Enterprises and Sun Pharma Advanced Research Company (SPARC). I think Sun Pharma Advanced is a stock which we feel is a great conviction bet. We just buy it, forget it and hope for Dilip Shanghvi to deliver may be three or four years down the line. So, this is the company which we like along with Apollo Hospitals," he said.