We are more bullish on JB Chemicals and Dr. Reddys as compared to Sun Pharmaceutical, said Abhimanyu Sofat of IIFL.
“From current price perspective, there could be 15 percent kind of upside in Sun Pharmaceutical. However, we don’t see the stock doing as well as some of the other peers in the sectors. Something like JB Chemicals or Dr. Reddys those are the kind of companies who are expected to do pretty well because of the kind of product pipeline that they have,” he said.
According to Sofat, from a valuation perspective, Dabur is expensive. “Though we are seeing a shift happening, especially because of their strong ayurvedic portfolio, but I think valuations are a bit expensive. For that particular reason I would not recommend investors to get an entry in this stock at this particular price point,” he said.
However, from a sector per se, Sofat believes that stocks like Godrej Consumer is expected to do pretty well. “Some of the smaller names like Emami or Bajaj Consumer, those companies may not be doing that good in terms of growth right now, but as the lockdown goes, those are expected to do pretty well,” he said.
On Reliance Industries, he said that there is value in the company and hence long term investors need not worry. He further added that it is a good time to start nibbling at current prices.
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