Positive on largecap pharma stocks, cement: Deven Choksey

Deven Choksey of KRChoksey Investment Managers told CNBC-TV18, "From the clarification that one has got from different companies on the API front, as long as you are not supplying to the government sector in USA in the pharmaceutical space, this particular subject is not applied to you. That is what the clarification is coming from most of the pharmaceutical companies. Indian companies are not supplying as much in bulk to the government sector. That is where even companies like Dr Reddy's Laboratories believe that the impact would be hardly anything because otherwise the API is allowed to manufacture in India and sold to USA. So I guess that news impact could possibly be short lived.""Overall, some of the frontline pharma companies definitely hold the good chance to come back or bounce back. We have seen Sun Pharma in recent times based on generic launch of Gleevec, they have basically bounced back but more importantly, I feel that they have corrected and probably if they start showing better flexibility in the profit performance going forward, I would think that they would remain stable from here onwards. I don’t know whether the premium valuation which they enjoyed in the past will continue to be so but at the same time, I would like to believe that they would complete the price correction and would remain steady to upward movement on the respective basis in different companies. So relatively positive with some of the largecap frontline pharmaceutical companies as of now," he said."We have been selectively into some commodities including cement. We basically like to buy into cement where the fundamentals are likely to shift to be better for this particular space."