Look at Sun Pharmaceutical Industries: Sandip Sabharwal

Sandip Sabharwal of asksandipsabharwal.com told CNBC-TV18, "Sun Pharmaceutical Industries is a stock which one has to buy on distress, but whether this is the distress value or not, that is a question. I think Rs 790 is not the distress value. It think it will be more near Rs 700. The bigger factor in Sun Pharmaceuticals is the management’s attention moving away from pharma into Suzlon because they have been putting more money into Suzlon, they have made this open offer and I think that is the bigger concern for me. They are very strong in pharmaceutical and they are focusing too much on this wind power segment into a company which is tough to revive.""The balance sheet has too many holes and I think the due-diligence process which happened before they got in, I do not think that was adequate. So, my guess is that one needs to wait and around Rs 700, there will still be value because it will be more 40 percent – that is Sun Pharma – it will be more than 40 percent off its peak value for this year. And finally as a business, its pharma business is very strong," he added.