Macquarie says Dr Reddy's, Cipla and Divi's Labs are top stock picks as Nifty Pharma trades at 12% premium to Nifty
Nifty Pharma now trades at a 12% premium to Nifty, this compares to a long-term average premium of 38%. Macquarie stays positive on India pharma companies. Dr Reddy's, Cipla and Divi's Labs are their top stock picks in large-cap pharma space while Syngene, Solara and Jubilant life are preferred mid-cap picks.
Nifty Pharma index has underperformed the broader market by 14% in the past month on likely sector rotation: Reuters