HeidelbergCement looks expensive: Baliga

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HeidelbergCement looks expensive: Baliga

HeidelbergCement India is looking expensive, says Ambareesh Baliga of Karvy Stock Broking.

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Excerpts from Bazaar on CNBC-TV18 Watch the full show » ALSO READ See previous views by Ambareesh Baliga See what other Experts & Brokerages are saying about HeidelbergCemen See messages about HeidelbergCemen HeidelbergCemen BSE | NSE 10/02/12 Are Mutual Funds betting on HeidelbergCemen?

HeidelbergCement India  is looking expensive, says Ambareesh Baliga of Karvy Stock Broking.

Baliga told CNBC-TV18, "We were suggesting HeidelbergCement India at level of around Rs 12-13 looking at the clean balance sheet they have. But at levels of Rs 40-42 it is a big expensive and possibly because of momentum it can move to levels of around Rs 45-48."

He further added, "We are not really looking at Dalmia Cement but at the same time Prism Cement is one stock which we are recommending looking at levels of around Rs 60-65 possibly in the next 12 months and one should remember that it could be a potential takeover target."