Stay invested in Glenmark Pharma: Shahina Mukadam

Shahina Mukadam, Independent Market Expert told CNBC-TV18, "I personally hold Glenmark Pharma and a couple of other pharma stocks. I would continue holding Glenmark for the medium to longer term given the fact that it is one of the few companies in India which has its own R&D and it is getting licensing income from its own R&D."

She further added, "In fact recently its inhaler for allergy and anti-allergy space, it is moving its NDA further into getting approval for the NDA somewhere in 2019. I would hold on to this stock and in terms of valuation it is not expensive. With just about 18 times multiple one year forward I think there is value in continuing to hold overall pharma sector given the fact that they seemed to have bottomed out at current levels. So, I would continue holdings."