Positive on pharmaceutical stocks: Ashu Madan

In an interview with ET Now, Ashu Madan, COO, Religare Securities, talks about pharmaceutical stocks.

A quick word from you on some of these pharmaceutical counters that have suddenly being defensive in nature have come into the limelight with the sell off in the high beta spaces?

Yes, there are two things I would like to mention here one definitely that has been a defensive counter of late but they are also shifting their beta from defensive to a high beta category not to the comparison of many other stocks but I feel that they are also coming out of shell and we can see they are performing better. So going ahead if somebody must want to invest in the market and must have a portfolio then their weightage should increase in pharma because of being defensive in nature and not only just defensive that whenever there is a market reversal. Their performance is also considerably better what we compare it to the last 3-4 years of their performance so it is coming out of that shell and could be one of the dark horse in the near future.