Way back in 2010 when i met PCI president Mr. Suresh, he said they will be introducing Residency and Fellowship programs for Pharm D ( in which you can also choose to specialize eg: ambulatory care, cardiology, neurology etc etc on the lines of residency programs in US ) Don't think they will be out any soon. read more
You can specialize in both oncology and cardiology, but you will have to do more than 1 residency. After obtaining your PharmD and completing your residency you can work in a hospital, community, or any other setting you prefer. read more