Look at Biocon, Ajanta Pharma can give 25-30% return: Gujral

Ashwani Gujral of ashwanigujral.com told CNBC-TV18, "The way pharmaceutical stocks have dropped on Friday, they have been in a three year rally and it is possible that a large correction is now beginning. So, I would not be in any kind of tearing hurry to get into pharmaceuticals. Maybe look at something like Biocon which is the strongest of the lot. But a lot of these stocks are way off the charts, in terms of the longer term charts.""Something like Ajanta Pharma which has gone up several times easily can give back something like 25-30 percent. This is the kind of news which will make the pharmaceuticals sector fairly volatile," he said."It is early days, you want to see at least one day of clean action a huge bar and then take a view. Biocon still fits the bill.""Today banks seem to be opening higher and it is difficult to say whether Punjab National Bank has bottomed out. But, early morning if you get a 5 percent style gap, at least for the first half of the session, chances are you could get more upside."