Wockhardt story is really intriguing: Deven Choksey

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

ET Now: I am intrigued to understand what is driving Wockhardt. Fundamentally, there is a challenge. The business is not growing. US FDA problems are not over. Yet, the stock on strong volumes has appreciated from 450 to 700.

Deven Choksey: Yes, at times, it would surprise us for sure. Not every company would probably fit into the M&A kind of a story that we are talking about. Even I am sure that Sun Pharma and Ranbaxy probably must have done a good amount of due diligence before buying into the Ranbaxy. So to a greater extent, applying the same yardstick to every company would be wrong but yes, the market has a mind of its own. Probably they have some different way of looking at Wockhardt. I am not totally sure as to what are the kind of stories that they are playing around with. But yes, where exactly the growth comes from in this company is an intriguing question.

So we would not get into this particular company. We would rather stay with the likes of Sun Pharma, Ranbaxy, the likes of Cipla, the likes of Glenmark, or Lupin in the pharma space.