Sun Pharmaceuticals Ltd. and Cochin Shipyard Ltd. are among the key stocks picks for Gaurang Shah, head investment strategist at Geojit Financial Services Ltd.
The market analyst recommends holding Sun Pharma despite the failure of its psoriasis drug trial. "Failing a particular drug trial does not mean that that's the end of the road," he said, during a televised interaction with NDTV Profit on Wednesday.
An unsuccessful trial does not change the research firm's sentiment about a stock or the sector, he added.
Another stock on his radar is Aditya Birla Fashion and Retail Ltd., with Shah having an 'accumulate' rating on the stock amid falling prices.
Talking about his top picks among defence stocks, he expressed optimism towards Cochin Shipyard, saying that the research firm is confident in its ability to perform well on account of the complex nature of ship building.
Apart from defence, Shah is also bullish on IT, automobile and auto-ancillary sectors.
The analyst also noted that with the RBI rate cuts coming through, the brokerage will "give an equal weightage" to private sector lenders like HDFC Bank and public sector lenders like the State Bank of India.
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