Invest in pharma with a bottom-up approach: Sarabjit Nangra

Sarabjit Kour Nangra, VP Research (Pharma), Angel Broking talks to Sohini Sen on the road ahead for the markets and pharma sector in particular.

Do you expect the markets to move up going ahead?

We believe that the uptrend in the Indian equity markets is well entrenched, though the same would manifest itself in the form a slow and steady rise in 2010 rather than a sharp run-up witnessed during the last year. Though in the near-term, they might consolidate at these levels but are expected to inch upwards in the medium-to-long term.

What are the key triggers for the market right now?

Overall for 2010, we are positive on Indian equities and the key trigger from here-on would be earnings growth.

With economic activity picking up and further impetus provided by the government in the Budget, FY11 would be year of acceleration for the economic growth (GDP growth expected to be upwards of 8%), which in turn would provide impetus to the India Inc earnings growth. For FY2011, we expect the Sensex companies to post a 30% growth in net profit.

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