Like Divis Laboratories, Torrent Pharma: Anmol Ganjoo

Anmol Ganjoo of JM Financial told CNBC-TV18, "The broad sectoral tailwinds which help the likes of Sun Pharmaceutical Industries and Lupin are also in play for the second tier but this does continue to be a fairly bottomsup approach. We think that Glenmark Pharma has benefitted given some visibility on its pipeline but we think clearly that Rs 56-57 is the best case EPS they can do in FY17. Implying it, its trading at higher than its 5-year average. So, obviously a lot of optimism is built there." "Torrent Pharma is something which we like and remain extremely constructive on. That is predicated given the windfall they have had, the cash they are accumulating as a consequence of that and successful integration of Elder Pharma. We think Torrent Pharma and Ipca Laboratories because of a host of other reasons and valuation comfort continue to be our favourites in this space," he said."Divis Laboratories is going to be a beneficiary of currency depreciation. So, there are upside risks to FY17 with Rs 96-97 consensus earning estimates. So, that is again we continue to like but not very constructive on Glenmark at this point in time."