ACC top pick, says Rahul Singh

Rahul Singh, Head of Equity Research at Standard Chartered Securities told CNBC-TV18, "We like ACC the most, it is the cheapest; it has under appreciated in terms of what profitability improvement can happen, so that’s our top pick in the sector. We like the whole sector; we think it is at an inflection point, it offers a cleaner way to play the capex cycle pick up in the country rather than buying deep cyclical or the capital goods plays, each one of which has a different issue. Therefore, cement that way and ACC in particular looks reasonably cheap."

At 11:30 hrs ACC was quoting at Rs 1,501.50, down Rs 29.55, or 1.93 percent. It has touched an intraday high of Rs 1,531.95 and an intraday low of Rs 1,500.50.