Here's why Abhishek Basumallick is bullish on pharma sector

economictimes.indiatimes.com:

«I think the time is now to just whatever stocks you are owning, if you have good companies in your portfolio, just keep owning them. Nothing has changed just because an index or a couple of indices has gone up,» says

Calls for a correction. We are back to dizzying heights, all of that. But market is not obliging. How do you approach this kind of a market? If you have ideas, do you continue chasing ideas or one has to hold his own hand right now to act in this market? First of all let us just take a step back and see in the global context where we are. I was just taking a look at some data just sometime last week. And if I look at say the MSCI India index, we are up roughly 3-3.5% year to date. And if I look at say a Korea or a Vietnam or a Mexico, they are up all double digits. So it is not that India has done spectacularly well. So it seems that India is doing well over the last 10-15 days because markets have taken over new height. Again, think about the fact that we have been in a range since about October 2021 so that is about one and a half years. So just to answer your question, I think the time is now to just whatever stocks you are owning, if you have good companies in your portfolio, just keep owning them. Nothing has changed just because an index or a couple of indices has gone up.Are you booking profits anywhere? Things which have really worked very well for you, valuations have gone up, even if the structural argument is intact, if the valuation re-rating has already happened and earnings have, would you hold on to or you will be tempted to book some profits?Yes, I mean it has to be a case by case call if the stocks have gone up too much and in the near term or in