Sthalekar told CNBC-TV18, "Yesterday you had some action in Grasim with the nifty rebalancing. But largely what we have seen in cement, over the last 2-3 expiry, almost all shorts in these stocks cover their positions and that has largely been because of price hikes."
He further added, "Sentiment on these stocks has been changing and which is why shorts have covered. Over the last few weeks we have seen a lot of long build up as well. So at this point of time if I had long position in cement stocks I would look to book profits, probably stay long in Ambuja but on most other names like Grasim etc I would look to get out. Probably you might see some momentum continuing in some of the smaller names like Heidelberg , so you could stay long in some of the smaller names."
