Accumulate Shasun Pharma on dips: CK Narayan

CK Narayan, President Treasury, Sharyans Resources in an interview with ET Now talks about Shasun Pharma.

What is the call on Shasun Pharma?

Hitting lower circuits is not very unusual because Shasun is not one of those highly traded stocks. So absence of buyers could ensure this but looking at it from a slightly longer term perspective, the market has remained pretty positive on prospects for Shasun and I do not see that changing on this particular piece of news. It has brought in an element of uncertainty no doubt but I do not think that is really going to change the longer term price pattern which is formed in Shasun.

I like what I see on the charts on Shasun but I would like it more if it were to fall down to somewhere around odd 70 levels. So somewhere between 65 to 70 is where I would look to accumulate Shasun, not buy it at one go, maybe accumulate it because these kind of approval based kind of things, they do take a long time, there is a phase 1, 2, 3, so many things keep happening. So it is a stock to accumulate over a period of time.