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.
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