Strides Arcolab & Aurobindo Pharma are good stocks to own: Satish Betadpur

Satish Betadpur, CFA, Global Research Director, Independent International Investment Research PLC in an interview with ET Now talks about Strides Arcolab & Aurobindo Pharma.

In the pharma stocks like Strides Arcolab and Aurobindo Pharma do you think there is some more meat left over the next 6 months for some of these stocks?

Well they need to have to take a break for a while because they have had a spectacular rally. Aurobindo especially but Aurobindo has been in a holding pattern between 900 to a 1000 for quite sometime and earnings have caught up. So on valuation Aurobindo looks like its ready to breakout to a higher level. We can see 1500 on Aurobindo quite easily. Strides on the other hand needs to still consolidate because earnings have to come through may be it will take a few more quarters before Strides moves in into a range where it can bounce from there. So overall pharma as a pack we like some of them have rallied substantially so its to be expected that they take a break right now but over the investment horizon these are good stocks to own.