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Last Updated : Dec 09, 2015 03:56 PM IST | Source: CNBC-TV18

Like Strides Arcolab for long term, says Deepak Shenoy

Deepak Shenoy of likes Strides Arcolab for the long term.

Deepak Shenoy of told CNBC-TV18, "We are going to see a little bit of a headwind for pharmaceutical stocks in the form of the Trans-Pacific agreement but I believe in the longer term, Strides Arcolab is poised to move from where it is right now which is a midcap player into a more largecap area. They have merged recently with Shasun Pharmaceutical, they have acquired an Australian acquisition which is basically a set of generic business. They also have a new FDA approval that is going for them which is one of the few positives you are seeing in the pharmaceutical space. They have bucked this downtrend to a tremendous extent."

"We like it for the longer term. We believe that it will positively benefit with the rupee at 67 per dollar or more," he added.

Strides Arcolab closed at Rs 1,381.60, up Rs 9.20, or 0.67 percent. It has touched an intraday high of Rs 1,397.30 and an intraday low of Rs 1,357.

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First Published on Dec 9, 2015 03:54 pm
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