Buy Suven Life Sciences, Granules India: Devang Mehta

Devang Mehta of Anand Rathi Financial Services told CNBC-TV18, "We have been recommending two midcap pharma stocks which have relatively underperformed the market and we are seeing now the stocks have good triggers to start performing, Suven Life Sciences as well as Granules India. So, both of these stocks are still among I can say 14-15 times one year forward earnings which if you consider the entire pharma universe would look to be quite undervalued. We feel these are wonderful stocks to own if somebody has a 12 to 24 month horizon wherein the stocks could give you even 40-50 percent type of returns."

On Tuesday, Suven Life Sciences closed at Rs 260.40, up Rs 8.20, or 3.25 percent. It has touched an intraday high of Rs 265.90 and an intraday low of Rs 252.45.