India Cement looks good: Angel Broking

India Cement looks good, says Rajen Shah, CIO, Angel Broking.

Shah told CNBC-TV18, "India Cement is one stock which I like a lot at this point of time. The market cap of this company is about Rs 2200-2300 crore and the capacity is about 16 million tonne after the recent expansion. So 16 million tonne you are getting for Rs 2300 crore. I think that's too cheap. Also they are owners of the Chennai Super Kings team and the value of that could be around Rs 750-800 crore."
He further added, "The interesting part here is that the company has done pretty well in the first quarter and Mr. N Srinivasan himself has been buying shares from the market via creeping acquisition. So I think at a price of about Rs 72 India Cement certainly looks pretty interesting."