Prefer Mangalam Cement: Mayuresh Joshi

Mayuresh Joshi of Angel Broking is of the view that one may prefer Mangalam Cement.

Mayuresh Joshi of Angel Broking told CNBC-TV18, "Our stance probably remains very much inclined towards the banking and financial space. Something like YES Bank  looks far more appealing to us. A very strong liability profile, looking at the kind of current account saving account (CASA) trends that the company is churning out and asset quality is very strong clearly and that will be a key beneficiary going forward. YES Bank is something that I would probably like."

"Cement is something we like and within the midcap pack, Mangalam Cement  is something that we prefer. Considering their installed capacity and kind of valuations that Mangalam is currently deriving, clearly volume growth back to the industry will mean that the utilisation levels for comapanies like Mangalam in the markets that they serve will go up which will ensure that ROE and ROC start inching up over the next few quarters," he said.

"I think a few themes and again from the midcap basket probably something like Hindustan Sanitaryware is something that we continue to like. Strong earnings growth is something that we expect from the company. Packaging product division catering to the glassware is showing signs of turn around and the EBITDA margins were quite robust in the quarter gone by.
The key theme would be to have a stock specific approach in these markets and probably make these investments in staggered manner."

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