Prefer Cadila Healthcare, Ipca Lab: Mayuresh Joshi

Nov 20, 2013, 06.15 PM IST

Mayuresh Joshi of Angel Broking is of the view that one may prefer Cadila Healthcare or Ipca Laboratories from pharmaceutical space or ICICI Bank from banking space over Aban Offshore.

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Prefer Cadila Healthcare, Ipca Lab: Mayuresh Joshi

Mayuresh Joshi of Angel Broking is of the view that one may prefer Cadila Healthcare or Ipca Laboratories from pharmaceutical space or ICICI Bank from banking space over Aban Offshore.

Like this story, share it with millions of investors on M3

Prefer Cadila Healthcare, Ipca Lab: Mayuresh Joshi

Mayuresh Joshi of Angel Broking is of the view that one may prefer Cadila Healthcare or Ipca Laboratories from pharmaceutical space or ICICI Bank from banking space over Aban Offshore.

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Mayuresh Joshi of Angel Broking told CNBC-TV18, " Aban Offshore has been a classical traders' delight and during bull market this stock zooms off to a different orbit. The operational results were encouraging, a profit after tax (PAT) of Rs 77 crore against Rs 49 did indicate operational efficiencies put in by the management. A few rigs got deployed in May-June on the Mexican coast, which adding long-term revenues of the stock."

"Looking at the core fundamentals, there are much better plays into the market where there are good corporate governance run companies where the cash flows would be strong and where the valuation would appear reasonable. So, from revenue and earnings per share (EPS) perspective there are selective shares within the pharmaceutical space like Cadila or an Ipca or even in the banking space like ICICI Bank on declines or from the infrastructure pack like IRB Infrastructure Developers or Sadbhav Engineering . If the investor can hold on for 12-15 months then these stocks can possibly give stable set of returns and consistent returns over the next three-four quarters rather than Aban Offshore, which can be fluctuating in terms of their operating and results performance," he added.

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