Pharma stocks not a good bet in the short term: Avinnash Gorakssakar

In a chat with ET Now, Avinnash Gorakssakar, Head of Research, Mintdirect.com, shares his views on the pharma sector, Excerpts:

ET Now: On the pharma names, what is the call right now, tactically are people kind of going a bit light on their positions for the pharma sector?

Avinnash Gorakssakar: Yes, if you look at the pharma space, despite the fact that we have seen pretty good numbers from companies like let us say a Lupin or Ipca Laboratories. The market is probably looking at some sort of sectoral shifting.

Most of the pharma names despite good earnings numbers clearly if you look at Dr Reddy’s also, we are seeing that these stocks have not actually performed admirably well and going forward also probably the rate sensitive especially the capital goods, the construction and maybe the smaller infra names that would be an area where possibly the market is betting on. Something like a Lupin can be looked upon if one has a longer term perspective but otherwise clearly it is still not the right time to actually aggressively go in pharma.