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Expect 5-10% upside in cement stocks: Baliga

This article was posted on Dec 29, 2008 and is filed under Market Outlook

Ambareesh Baliga of Karvy Stock Broking is of the view that one can expect 5-10% upside in cement stocks. Baliga told CNBC-TV18, “Cement was clearly oversold and that’s the reason why you saw some amount of bounce back and the figures that actually came for last month that also has created some interest in the sector. But looking at the medium term, the next 2-3 quarters, we clearly see a mismatch between demand-supply. So I don’t see too much upside from here, we could possibly see 5-10% of upside but beyond that seems a bit difficult.”

source: Moneycontrol

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