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Keeping a cautious stance on all the pharma stocks, says market expert SP Tulsian

Updated : June 24, 2019 05:03 PM IST

The latest analysis and commentary by stock market guru SP Tulsian of sptulsian.com on what is moving the markets today.

Speaking about Ujjivan Financial Services, Tulsian said: “About a week to 10 days back, I don’t want to name the investment banker who has released the report on Ujjivan and when I was asked by you will you be buyer looking to that report, I said no it is a clear avoid. These reports really causes damage and maybe Sebi [market regulator the Securities and Exchange Board of India] should also look into these things. It is a clear void and won’t be taking by call on this stock.”

Talking about Reliance Industries he said, “If you recall when the results came in Q4, I cautioned the core numbers are seen to be quite concerning but after the results shares have moved to Rs 1,400 and since then I have been saying that share price can fall below Rs 1,300 to as low as Rs 1,250. I am still quite hopeful that in spite of having all the concerns on the core numbers that yes the things will be seen quite margins under pressure but I don’t think that the prices will fall below Rs 1,200 because the moment the prices reache there you see the value buying coming back. I am quite hopeful that the range should be or share trading range should be Rs 1,200-1,400 till we see the Q1 numbers coming out of the from company.”

Speaking about Glenmark Pharmaceuticals, Tulsian said: “I will refrain from buying Glenmark and in fact at one point of time about 6-8 months back we had been keeping positive view on Glenmark Pharmaceuticals, Aurobindo Pharma, Divi's Laboratories and Biocon that too for the compulsive buyers in the pharma. But yes, it is better to remain away. I had cautioned that we may see the weakness but this kind of weakness was not expected because of that complete response letter (CRL) having issued by the USFDA. So I am keeping the cautious stances on all the pharma stocks.”

Disclaimer: The views and investment tips expressed by investment experts on CNBCTV18.com are their own and not that of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.
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