According to Sameet Chavan of Angel Broking, one may buy Sun Pharmaceutical Industries and Dr Reddy's Laboratories on dips.
Sameet Chavan of Angel Broking told CNBC-TV18, "In the near term the overall pharmaceutical space is undergoing a corrective phase but we believe that if one has two to three years of horizon then probably one can enter Sun Pharmaceutical Industries, Dr Reddy's Laboratories and Ipca Laboratories on every dips. These are in house positive coverage stocks so we believe that any dips from current level in all these stocks he can invest his money.
At 15:19 hrs Sun Pharmaceutical Industries was quoting at Rs 871, down Rs 3.20, or 0.37 percent on the BSE.
The share touched its 52-week high Rs 1,200.70 and 52-week low Rs 688 on 07 April, 2015 and 30 June, 2014, respectively.Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.
First Published on Jul 1, 2015 03:28 pm