Avoid cement stocks: Varun Goel

Varun Goel, Karvy Private Wealth is of the view that one should avoid cement stocks.

Goel told CNBC-TV18, “We believe that most of the cement companies have been trading at quite expensive valuations throughout the last one year. We are seeing completely a situation of oversupply. There have been lot of concerns about price cartelization and CCI has also imposed a penalty on most of these producers. However, most of these stocks continue to trade at a rich valuation and for us this sector is an avoid completely at this point of time.”