Markets took a breather today and settled almost unchanged, citing mixed global cues ahead of the US Fed meet outcome. On local front, marginal uptick in CPI inflation was also weighing on the sentiment. In line with index, mostly sectoral indices closed flat; however, buying continued in midcap and smallcap space.
Markets will react to the US Fed stance in early trade tomorrow, which might trigger some profit taking. Having said that, our view is bullish on markets and we suggest maintaining buy on dips approach. At the same time, caution is advisable on stock selection part and suggests preferring fundamentally sound stocks for investment and trading.
* Talwalkars Better Value Fitness announced that it signed a memorandum of understanding (MoU) to acquire around 50% stake in Force Fitness India, the holder of master franchisee of ‘Snap Fitness’ gyms.
* Glenmark Pharmaceuticals received the establishment inspection report (EIR) from the US Food and Drug Administration (USFDA) on successful closure of inspection of its Ankleshwar plant in Gujarat.
* Government of Maharashtra allotted the balance works of construction of the irrigation scheme in Vidarbha under the Gosikhurd National Project to NBCC (India), for a total value of Rs. 6,000 Cr.
Religare Super Ideas
Buy Ashok Leyland Limited @ 91-92 Stoploss 88 Target 100 CMP 91.10
Buy Torrent Pharmaceuticals Limited @ 1345-1355 Stoploss 1310 Target 1430 CMP 1350.70
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