Prefer pharma space, says Dilip Bhat

Dilip Bhat of Prabhudas Lilladher told CNBC-TV18, "Pharma still remains a very good sector to bet on because we are still seeing that for most of the frontline companies we will still see a compound annual growth rate (CAGR) of at least 18-20 percent on the bottom line for the next couple of years. More importantly lot of these companies do generate a fair amount of free cash with good return on equity ROE’s."

"This is a sector one should really continue to hold and continue to buy also further. The stocks that we like within that space are something like Cipla, Lupin or may be even a Glenmark Pharma and it goes without saying you should hold Sun Pharma as a part of your core portfolio either you play it through Sun or you play it through Ranbaxy," he added.

Disclosure: It will be fair to assume that directly or indirectly we would be interested or owning some of these stocks and even through our recommendations.