Dr Reddy's Labs top pick, says Mehraboon Irani

Mehraboon Irani of Nirmal Bang Securities told CNBC-TV18, "In terms of valuation, if you ask me, that is still a question mark over Sun Pharmaceutical Industries. I think the stock, even if it is available Rs 100 lower, I will still have a question mark over the valuation. It has given a dream run over the last four or five years, but from Rs 1,100, I have turned negative on the stock." "I honestly feel this entire healthcare as well as pharmaceutical segment, most of the stocks are having valuations which are right now a little bit difficult to defend. So, in the frontline stocks, Dr Reddy's Labs remains our top pick but if you ask me among the Indian companies, we are recommending Alembic Pharmaceuticals and Torrent Pharmaceuticals to our clients. In the multinational company (MNC) names we continue to like Abbott," he said.