Buy UltraTech Cement, advises B Krishnakumar

B Krishnakumar of Fundsindia.com told CNBC-TV18, "If one looks at the large cap cement pack like Ambuja Cements, ACC or UltraTech Cement, they have been forming a basing pattern and we sense a short-term trading opportunity in UltraTech Cement and people can buy the stock with stoploss at Rs 1625 and a slightly medium term target of Rs 2040."

At 14:38 hrs UltraTech Cement was quoting at Rs 1,726.90, down Rs 1.50, or 0.09 percent. It has touched an intraday high of Rs 1,748 and an intraday low of Rs 1,720.25.

The share touched its 52-week high Rs 2,066.25 and 52-week low Rs 1,404.95 on 20 May, 2013 and 29 August, 2013, respectively. Currently, it is trading 16.42 percent below its 52-week high and 22.92 percent above its 52-week low. Market capitalisation stands at Rs 47,358.63 crore.