Hold Sun Pharma: Mayuresh Joshi

Mayuresh Joshi - fund manager - PMS at Angel Broking told CNBC-TV18, "Clearly we were quite bullish on Sun Pharma for quite a while and we are actually quite close in terms of our yearly target prices, our target prices have actually been achieved today but clearly if one looks at the kind of abbreviated new drug application (ANDA) pipeline that Sun Pharma has got close to 600 odd applications with the merger in Ranbaxy, URL, Dusa and the kind of niche products that one probably looks at with Sun Pharma, the earnings growth can be quite stupendous FY17-FY18 onwards. It is very early to call FY18 numbers but once you roll over FY17 numbers the valuations also look pretty attractive."

"Clearly earnings before interest, taxes, depreciation and amortization (EBITDA) margins in excess of thirty one and a half percent, return on equity (ROE) in excess of twenty seven and a half percent and valuation is not too expensive so if somebody has actually bought into Sun Pharma, clearly hold on to that stock, you are holding on to a very good quality stock," he said.