Accumulate Glenmark Pharma for the target of Rs 1,050: Avinnash Gorakssakar

In a chat with ET Now, Avinnash Gorakssakar, Head of Research, Miintdirect.com, shares his top investment pick.

ET Now: Is there any stock that you would like to recommend?

Avinnash Gorakssakar: Within the pharma space, I like Glenmark Pharma. Even as the fourth quarter numbers were not very encouraging due to several onetime write offs, the management commentary on FY16 in terms of the kind of product pipeline in the US and the kind of money infused to reduce debt on the balance sheet are encouraging. I think Glenmark can be accumulated with a slightly longer-time horizon. I think we are looking at a price point of around Rs 1,050.