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Prism Cement can touch Rs 40-43 – moneycontrol.com

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Mehraboon Irani of Darashaw & Company is of the view that Prism Cement can touch Rs 40-43.

Irani told CNBC-TV18, “Frankly cement stocks if you would have asked me a month ago I would have said that cement from an outperformer we have come to just a performer possibly underperform over the next 12-18 months because I personally feel the demand-supply equation right now which is in favour of demand far out stepping supply. That gap should narrow down as we progress over the next 12-15 months. So cement about a month ago I would have given a 15% rise in the share prices over the next 12-15 months.”

He further added, “But now they have come down very sharply, the sector looks like people have just hammered it beyond the expectations considering that some negatives may come in the Budget. There are better bets at present levels, there are scrip like are Birla Corporation and Gujarat Ambuja, which definitely looks very interesting. Even Prism Cement frankly, while the only positives are its recent unit or very modern unit. The fact is if you look at the way this stocks have performed from May to January, I think the stock has done nothing much. So even if somebody has sell at Rs 42 in May, the price is right now even at Rs 38. I think this is definitely not a best bet in the cement segment even when the cement stocks have been hammered too much and this has also come down to Rs 45 to Rs 38.”

“There could possibly be a bounce back but definitely not a stock worth investing in. So probably a Rs 40-43 can become possible again but I would say Prism cement is a stock to be sold and if somebody wants an exposure in cement, I have given my recommendations Birla Corporation, Gujarat Ambuja, I would definitely pre fer at the present levels.”

Source : www.moneycontrol.com

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