Cautious on ACC, Ambuja, India Cements, UltraTech: Tulsian

SP Tulsian, sptulsian.com advice traders to be cautious on ACC, Ambuja Cements, India Cements and UltraTech.

Tulsian told CNBC-TV18, “Cements stocks, now the confusion is started prevailing since yesterday whether the penalty will be 8% of the turnover or three times of the estimated profits and both are at two extreme ends. If you take three times of the profits it works out to as high as 40% of the turnover so you won’t be able to take a call unless and until you see the order.”
He further added, “It is certain that any kind of order will definitely be seen profit booking because specially the kind of run-up which we have seen in the stocks like ACC, Ambuja and India Cement, I am not talking of the other larger players like India Cement and all that, one can exclude JP Associates which is moving for its own region because of the holdings in JP Infra and all that but definitely the cautious view is required on all four biggies ACC, Ambuja, India Cements and UltraTech and ultimately the trend has to be decided after seeing the contours of the order.”