Invest In India Cements On Declines : Rahul Mohindar

Rahul Mohindar of Viratechindia suggested investors to buy India Cements on falls.  

Mohindar told, "ACC bounced up from that Rs 950 mark although the way into Rs 1,000-1,020. So the kind of bounce up we have seen from the support is good. But it’s still too quick to take a call on cement for e.g. ACC till we get pass Rs 1,040, I do not see it once again breaking out so we need to see some more stability one-two days of an upside movement because this entire rally were on volumes which have been quite subdued. So we need to see some more action at higher levels, we need to move above Rs 1,040 and if we look at some of the other peers, India Cements looks a good investment call on declines but we would like to still wait and watch if we are looking at this market clearly short-term."

He added that India Cements is a good and optimistic stock for both short as well as long terms, so whenever the stock go down to its lowest level, buy it and hold it to make good profit.

India Cement’s prime activity is to make and market cement under the trademark Coromandel cement. The Group functions in four different sections: Cement, Power Generation, Property Development and Textiles. The other trade names under that the Group sells its cements include Coromandel King, Sankar Sakthi and Raasi Gold. Its plants are situated at Tamil Nadu and Andhra Pradesh. The Group operates in India.