UltraTech Cement in the large cap and Shree Cement and JK Lakshmi Cement in the midcap space are the top pick, says Jaspreet Singh Arora, Anand Rathi.
Arora told CNBC-TV18, "Our top pick from the cement space in the large cap is UltraTech Cement and from the midcap space it is Shree Cement and JK Lakshmi Cement."
He further added, "From a Budget perspective there were more positives that came out from the regulator coming in in the National Highway Authority of India (NHAI) road space, doubling of spend from the Jawaharlal Nehru National Urban Renewal Mission (JNNURM) and from the impetus given to the urban housing and the rural housing. So that probably will only take a bit of time to really flow down at the micro level but yesterdays news of degrowth in dispatches was the real reason for the disappointment in the stock prices."
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