Buy Pidilite Industries, target Rs 616: Manoj Murlidharan

Manoj Murlidharan of Religare Securities told CNBC-TV18, "The money is coming out of bank as a sector. Banks right from the time the Reserve Bank of India (RBI) policy, we have seen there is not really any cash delivery which is happening specifically couple of stocks. So the money is going into FMCG.""Pidilite Industries is one stock where there is good buying which is happening in the cash market. There is good long build up, so we would advocate buying the stock even at current level of Rs 600 with a stop loss of Rs 592. We are expecting a target of Rs 616 at least in the short-term," he added.