Independent market expert Ambareesh Baliga, in an interview with CNBC-TV18, said despite good numbers, largecap pharmaceutical stocks have not moved too much.

On Cipla, Baliga said, “If it comes out with good numbers, maybe we can have one small uptick of possibly 3-4 percent and it should stabilize after that.”

Baliga is bullish on Godrej Consumers. He said, “Looking at the consumer demand which is there not just in FMCG, but we have seen that across, even as far as autos are concerned. So we expect demand to continue at least in the foreseeable future. On a correction, it is clearly a buying opportunity.”

According to Baliga ITC is the only stock which is available at such low valuations. Hence, he recommended a buy on the stock.

On Voltas, Baliga believes if the results are not up to the mark then it is time to book out. “The pent up demand has already played out to a large extent. So I don’t see too major growth from here on especially in the winter months. So, if the results are not up to the mark, it is possibly time to book out,” he said.

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(Edited by : Bivekananda Biswas)