Hold India Cement: Mehraboon Irani

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Hold India Cement: Mehraboon Irani

At present valuations, one can continue to hold on because India Cement can go up from here on a fundamental basis , says Mehraboon Irani, Centrum Broking.

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Excerpts from Your Stocks on CNBC-TV18 Watch the full show » ALSO READ See previous views by Mehraboon Irani See what other Experts & Brokerages are saying about India Cements See messages about India Cements India Cements BSE | NSE 10/02/12 Are Mutual Funds betting on India Cements?

Irani told CNBC-TV18, " India Cement has under performed in the last six months because of fall in cement prices, I think there is  a distinct possibility of prices going up in the near future, no doubt about it.

Secondly, valuation of the entire cement sector otherwise looks quite attractive, so I don't see too much of downside risk. But on the whole I don't see too much of demand pick up happening at least in the near future. At the most the sector could continue to remain a dead sector for some more time to come. But at present valuations I won't advice the investor to book his profits; he is sitting on huge pie. He can continue to hold on because the stock if anything can go up from here on a fundamental basis."