Look to enter Sun Pharma on declines: P Phani Sekhar, Angel Broking

In a chat with ET Now, P Phani Sekhar, Fund Manager-PMS, Angel Broking, shares his views on various stocks

ET Now: What is your call on Sun Pharma?

P Phani Sekhar: Sun Pharma has been surprising for the past few years. The stock has been fairly rewarded by the market in terms of re-rating in its multiples. Going forward, Sun Pharma might very well continue on the back of its earnings momentum.

This is because the consensus forecast for the next one year are as robust as the company has delivered. So, I would tend to believe that the risk going forward in this stock is slowly increasing. This is because of the elevated multiples and the stellar set of results that it has been delivering over a period of time.

The downside risk is increasing a little bit. Investors who might have got excellent profits might think of booking a part of the stock currently and then looking to enter it on declines.