 "Markets open on a cautious note ahead of the the US Fed meet")
KEY STCOKS
Among the largecap stocks, Bajaj Auto and Hero Motocorp continue to rally on the back of higher sales numbers. Meanwhile, 7th Pay Commission reports lifted the mood.
On the flip side, Mahindra & Mahindra (M&M) has managed to overtake Tata Motors and take the top position in the light commercial vehicles segment. Tata Motors has dipped nearly 1%.
Meanwhile, Vedanta & Hindalco will shift out of the BSE benchmark Sensex from December 21. The stocks are showing weakness and have slipped between 2-3%
Another big loser from the Sensex 30 pack is GAIL after Moody's affirmed the Baa2 long term rating of Gail and changed the outlook to negative from stable. The stock is down 1%.
In the banking segment, Axis Bank has opened a representative office in Dhaka, capital city of Bangladesh and the stock is reacting positively to it and is up 0.5%. Among its peers, SBI and HDFC Bank are up between 0.3-0.5%.
In the broader market space, Britannia Industries is embarking on a new growth path of becoming a total food company, aiming at Rs 20,000 crore turnover within 5-6 years and the stock has gained 0.5%.
Strides Shasun is planning to raise up to Rs 1,500 crore to fund expansion, debt repayment and other corporate purposes and has sought fresh approval from its shareholders and the stock has surged nearly 6%.
