Like Abbott, Ambelic Pharma, but high valuations a concern: Mehraboon Irani

In a chat with ET Now, Mehraboon Irani, Nirmal Bang Securities, shares his views on midcap pharma stocks.
ET Now: Name the mid-sized pharma stocks that you like the most.

Mehraboon Irani: We continue to like three midcap pharma names. All of them have expensive valuations. Maybe, they are offering no value right now, but we continue to like to them. Two of them are Abbott and Alembic. The third name, which we have liked for a long time, and had once recommended at Rs 40 level, is Caplin Point Laboratories. The stock now trades at around Rs 1,400 level. So these three stocks, we like in the pharma space.

Should one put incremental money in these stocks at present level? Honestly, I do not have an answer. But will the stocks see higher levels in the future? Yes, certainly. As far as Abbott and Alembic Pharma go, our research team says that we are expecting decent numbers from both these companies for the quarter gone by.