Last Updated : Jan 18, 2018 03:02 PM IST | Source: CNBC-TV18

Buy UltraTech Cement on dips, says Vijay Chopra

Vijay Chopra of is of the view that one may buy UltraTech Cement on dips.

CNBC TV18 @moneycontrolcom

Vijay Chopra of told CNBC-TV18, "There has been a stretch in the stock prices for sure, but this does not make any company bad. UltraTech Cement, the results have been a bit tepid, but I think that the kind of infrastructure push we are expecting in the Budget, and the projects which the government has announced, I see a lot of action happening in the cement space. So probably the stock can go down maybe even Rs 4,200 or so, but my sense is that it would very strongly bounce back."

"It is a great company and it is into the process of acquiring and increasing capacity. So, I think that if one wants to buy at Rs 4,200-4,250, it would be a great time to get into the stock. Wait for some time because these corrections are also important."

"We see a gap up opening and stocks buzzing past the roof, but I think that there has to be some sense to this madness. So I think that wait for a correction to happen, Rs 4,200 is a great time to get into the stock. My long term target for the stock is Rs 5,500," he added.
First Published on Jan 18, 2018 03:00 pm
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