Hitesh Mahida cautious on Lupin, prefers Dr Reddy's Labs

Hitesh Mahida of Antique Stock Broking told CNBC-TV18, "We are slightly cautious on Lupin at this level because of the valuation at which it is trading. They have lot of good products in their pipeline. Nexium will be a good launch but lot of it has already got built into the stock. We would be slightly cautious at these levels in Lupin with the valuations pretty high."

"We would be rather focusing on some of the other largecaps which have got beaten down due to concerns surrounding the global situations like Dr Reddy's Laboratories, Glenmark Pharma and we will be buying those sort of largecaps rather than the expensive ones," he added.