Avoid cement space, advises Dipan Mehta

Dipan Mehta, member of BSE & NSE told CNBC-TV18, "Cement stocks have to be avoided at this point of time. They have had excellent run over the past two-three years or so. All the consolidation which took place in the industry and the kind of price discipline which they maintained certainly resulted in very good performance but now the overall economy is slowing down. Capex cycle is not picking up. We are seeing a lot of overhang of inventory in the real estate sector and capacity also has come in to play. Lot of cost have gone up because of diesel, coal etc."

"May be time has come for these companies to have a bad patch, I do feel coming through for this sector as a whole. I would like to avoid cement completely. May be if one is a long-term player with a view of 3-5 years then one could look at buying these stocks at a correction may be 10-15-20 percent lower or so. But until then these stocks are best avoided. There is so much of action happening in other sectors one does not really need to be invested in cement," he said.

Also Read: JK Lakshmi Cement Q2 net slips 80% on steep fall in prices

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