Ambuja Cements may slip to Rs 160: Tater

Written By Unknown on Jumat, 22 Maret 2013 | 20.07

Aashish Tater, Head of Research, Fortunewizard.com is of the view that Ambuja Cements may slip to Rs 160.

Tater told CNBC-TV18, " Ambuja Cements may slip to Rs 160, because there are two or three major events that have passed by. Commonwealth was one which saw a lot of demand for this sector, but now we cannot forecast in next 12 months or so that this kind of consumption will come. Already if you see the infrastructure itself is having problem and road projects are not getting cleared that easily that the forecast is."

He further added, "The capacity has ramped up quite significantly across North India as well as south. So we feel the cement as a sector would eventually see just the replacement cost theory basis and will not see lot of momentum. If you see these are all index management stocks that whenever there is a huge fall in Nifty in order to protect they are actually going and buying something like ACC , Ambuja or even for that matter Ultratech Cement. I would suggest to at least book partial out of this particular sector, at least 50 percent of what one holds at current levels, because we feel the stock would definitely come to Rs 160-155 in quiet short span."



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