Hold Biocon, target Rs 450: Vijay Chopra

Vijay Chopra of enochventures.com told CNBC-TV18, "We have seen that not only Biocon but all the major pharmaceutical companies have gone through the grind in the last two years and they have of course, worked on their processes, worked on their manufacturing facilities and probably set their house in order. So my sense is that over a period of time, I think that pharmaceutical companies should now start doing better and we will see an uptick because in the last two years this is one of the sectors which has been a clear laggard and thanks to last two days, we know what can happen to laggards, certainly."

"We have seen Sun Pharmaceutical Industries doing well today. Biocon, my sense is that if somebody holds on with a longer term perspective should do well. One should hold on for a target of Rs 450. So no rush. I think that pharma should start performing very soon," he said.