Pharma looks attractive for long term, says Dipan Mehta

Dipan Mehta, Member at BSE & NSE told CNBC-TV18, "Some amount of capital is moving out of the defensives back into some of the cyclicals and the interest sensitives. But then the sectors like pharmaceuticals and all are clearly in a secular growth as far as their performance is concerned and this earnings season also, we are expecting very good numbers coming up from pharmaceutical companies given the various launches which have taken place. Also domestic market for pharmaceutical companies has really picked up and now is a solid deal double digit as far as volume growth is concerned.""I would not write of the sector nor would I like to go underweight or liquidate positions over there. Some what, all these cyclical movements and money moving in and out of favourite sectors will continue. But for the long-term, pharmaceuticals still looks very attractive," he said.