Stay with largecap pharma: Ajay Bagga

Ajay Bagga, Market Expert told CNBC-TV18, "For pharmaceuticals, the overall valuations were stretched. I would recommend staying with largecap pharma. In midcap you have a few which are performing well, but quite a few also which are not having really the models backing them and it is more interested buying which is taking them ahead.""I would say, stick with largecap pharma. You have mergers and acquisitions (M&A), molecules and all kinds of news flows coming. Those will continue to deliver with good returns on equities (ROE) and good returns," he said.