Three beaten down pharma stocks - Sun Pharmaceutical, Dr Reddy Laboratories and Aurobindo Pharma - have emerged as the top favourites among India's equity fund managers. Fund managers call it a value buying and add that in the next 1-2 years it will not only be difficult but possibly impossible to add up these stocks in their portfolios as they expect these stocks to bounce back to levels they crash from.
So much is the attraction for these particular pharma stocks that during August-September period, fund managers stoked over Rs 2,200 crore in these scrips - Sun Pharmaceutical alone cornered over Rs 900 crore of it. Dr Reddy took away a little over Rs 800 crore while rest was pumped into shares of Aurobindo. It needs to noted that for last two months, these scrips have continued to figure in fund managers' top 20 most bought stocks.
