Mr. Nair: Basically, I cover Indian pharmaceuticals and most of my universe - in fact, practically the entire universe of Indian pharmaceutical stocks - would fall in the smaller-cap category. Generally, these companies are either focused on the generics opportunity globally, or they are focused on the outsourcing opportunity. So typically most of the stocks that I cover will fall in either of these two categories.
TWST: Are many of the stocks you cover acquisition targets?
Mr. Nair: Business wise, yes, there could be a lot of merit in these companies being looked at as acquisition targets. But it's difficult to imagine any of these becoming a target for hostile bids because the founders or the promoters own a very large percentage of the shareholdings. So it's very unlikely that any larger company can come in and make a hostile bid. Yes, if promoters are willing to sell out, then there could be a case built for a lot of these companies being attractive for larger companies overseas.
Tickers included in this excerpt: ATRIXLAB.BO, AUROBINDOP.BO, BIOCON.BO, CLARICH.BO, DSKYF.PK, FRX, GLENMARK.BO, GSK, LLY, LUPINSL.BO, MKGAY.PK, MYL, PFE, PIRAMALHE.BO, RANBAXY.BO, RDY
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