Like Sun Pharmaceutical Industries, says Mayuresh Joshi

Mayuresh Joshi of Angel Broking told CNBC-TV18, "We did like Aurobindo Pharma and Dishman Pharma from the midcap pharma universe. The stocks have moved up quite significantly over the past few weeks and months. So, clearly out of largecap space, Sun Pharmaceutical Industries is only stock that we probably like from the risk reward and valuation perspective.""Lupin’s results yesterday was extremely disappointing. Clearly the EBITDA numbers and the profit after tax (PAT) numbers were way below of what we were estimating. The street is now very hopefully in terms of what kind of launches that the company can come through. So, if you are talking about Nexium launch you are talking about the kidney treatment launch which is Renagel, you are talking about the cholesterol drug treatment launch Welchol which is expected to come through out next few quarters, all that probably might help Lupin in terms of how the US business might grow. The oral contraceptives (OC) business is something that needs to grow again at faster pace and what has probably disappointed has been the India business volume. So, valuation for the space gently is looking a tad bit stretched at this point of time. Those sustainability of burdening will come through for a lot of companies within this universe considering the kind of currency depreciation benefits that the companies will enjoy," he said. "We remain extremely selectively now on this space. So, Sun Pharma is the only stock that we are liking at this point in time from the largecap space in terms of risk reward."