Sharekhan buys Glenmark Pharma, CESC; sells Lupin

Sharekhan has come out with its report on various stocks.

"Despite the promising beginning of the month, the benchmark indices failed to break out of the multi-month range on account of an aggressive policy rate hike by the Reserve Bank of India and negative global cues. Consequently, the benchmark indices, the Sensex and the Nifty, declined by 4.4% and 4% respectively since July 1, 2011 when we had last revised the contents of our Top Picks basket. The CNX Mid-Cap Index was more resilient and reported a relatively lower loss of 1.8% for the same period. Compared to benchmark indices, the performance of our Top Picks basket was better as it declined by 2.4% in the same period.

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