Expect more pain for Sun Pharma in short term; buy on dips: Avinnash Gorakssakar

In a chat with ET Now, Avinnash Gorakssakar, CIO and Head Research, Precision Investment, shares his view on Sun Pharmaceuticals.

ET Now: If you had Sun Pharma in your portfolio, would you have sold it out at Rs 800?

Avinnash Gorakssakar: I would hold on because clearly this event (profit warning) was waiting to happen. If it is going to happen for even one more quarter, I would better be a long-term buyer on the Sun Pharma counter because I expect the short-term pain to continue. That said, once the integration (Sun-Ranbaxy) process gets over, it is not going to be repeated. So, I would definitely be a buyer even at lower levels.