Pharma cos remain a selective pick: Deven Choksey

In a chat with ET Now, Deven Choksey, MD, KR Choksey Securities, shares his views on pharma stocks.

ET Now: What is your call on pharma sector?

Deven Choksey: If we look at the Indian pharma space, the companies have basically created a situation wherein they would end up exporting more vis-a-vis the local growth. The local growth itself is doing smart but at the same time, larger amount of growth should be coming from exports. In a depreciated currency environment, probably they are getting the maximum benefit out of it. So, the pharma companies remain a selective pick.

Ranbaxy shows a lot of growth potential going forward as well. Glenmark also came out with relatively better performance. The companies have come out with relatively better performance including Cipla yesterday. So, pharma companies would be selective choice as far as investment portfolios are concerned by investors, particularly when they want to defend the portfolio of some going down further in this kind of volatile market. After FMCG, pharma remains a natural choice for many of the fund investors now.