Auto, pharma stocks offering margin of safety top funds' buy list in July

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Auto, pharma stocks offering margin of safety top funds' buy list in July..

Fund managers lapped up pharma given the recent underperformance, lower input prices and attractive valuations..

With first-quarter results encouraging, they bought into stocks like Dr Reddy's Laboratories, Aurobindo Pharma, and Suven Pharmaceuticals.iStock..

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The Nifty Pharma index is trading at a price-to-earnings multiple of 31, lower than its five-year average of 36. Fund managers bought into stocks like Aurobindo Pharma, Cipla, Pfizer, Lupin, JB Chemicals, Alkem, and Syngene International.