Prefer Glenmark Pharma, Syngene: Gaurang Shah

Gaurang Shah of Geojit BNP Paribas Financial Services told CNBC-TV18, "We do have a positive coverage on Dr Reddy's Laboratories and even I am eagerly waiting for the earnings, because there has been disappointment during the time when we had some slowdown in Russia and of course the ruble devaluation. The stock took a hit and a lot of institutions and brokerage houses came out with a sell call. We maintain a positive coverage, but incidentally, the stock is trading very close to our target price which somewhere close to about Rs 4,250-4,300."He further added, "If you have an inclination towards pharmaceutical then my advice would be to go in for Glenmark Pharma. We have a positive coverage. Over the last many quarters, this one particular midcap pharma stock has been an outperformer. We definitely have a positive coverage on Glenmark.""The other one that I would recommend is a new listing Syngene. Great performance in terms of quarter-on-quarter (Q-o-Q) and post listing the stock has rewarded investors. As a disclosure again when the IPO came out of Syngene, we had come out with a positive IPO note and have advised subscribers to go in for this particular IPO from a long-term point of view, so you have Glenmark and Syngene both of them," he said.