Hold Cipla, may test Rs 600: Rajesh Agarwal

Rajesh Agarwal of AUM Capital told CNBC-TV18, "It is enough courage to talk about pharma at these days because entire pharma space is going through stressful times where almost pharma stocks are down due to Trump, due to generic, due to currency being unwell but one thing is for sure two years down the line, pharmaceutical would be giving tremendous amount of return if somebody is buying at this point of time."

"As far as supply is concerned, this is a leading and it is likely to maintain its leadership position and not to forget, the kind of exports they make and even two-three acquisitions they have made in the recent past is going to add to the numbers."

"We expect Cipla to report FY19 earnings of around Rs 30 and even if one gives Rs 20 P/E, the target price comes to around Rs 600. So I would say if one does not have any restriction of time, one can continue holding this stock and if for any reason, due to bad numbers or market condition it falls to around Rs 450-440 levels, it would be a very good levels to enter," he said.