Lupin top pick, L&T and Reliance seen as long-term bets: Chola Securities

Dharmesh Kant, Head of Research at Chola Securities said pharma remains a strong sector with consistent earnings, highlighting Lupin as a key outperformer due to strong growth and improving margins. He sees Larsen and Toubro (L&T) as a long-term opportunity after a 20% correction despite near-term margin pressure. Reliance Industries is expected to deliver gradual growth, with retail and new energy businesses as key future drivers. Disclosure: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.