Sun Pharma Advanced conviction bet: Mehraboon Irani

Mehraboon Irani of Nirmal Bang Securities told CNBC-TV18, "Sun Pharma Advanced Research Company is a conviction bet, absolute conviction bet and again this stock has given very sharp returns in the last six months and has corrected enough but no hurry to book profit because the story could be a very big one which can take its own time to unfold and this is the stock which you just keep it, keep your fingers crossed and hope that the stock delivers because I am quite confident it will."

"So far it has done very well but in Sun Pharma at this present price while it is difficult to defend the valuation despite the sharp correction but considering that ultimately pharma is considered a defensive bet, it is more sacred than cow for a lot of people. People are going to buy Sun Pharma because it has corrected. Lot of people have been asking me should we go and buy. The fact is yes if that logic is to be used, you are going to make possibly 15-20 percent return in the next one year," he said.