Gopi Suvanam bearish on largecap cement space

Gopi Suvanam, founder of InvestWorks told CNBC-TV18, "I am bearish on the largecap cement space, primarily because it sort of overshot the market and if there is some volatility in the market they are going to correct a little bit from here."

At 11:11 hrs ACC was quoting at Rs 1,256.30, down Rs 7.65, or 0.61 percent. It has touched an intraday high of Rs 1,280.65 and an intraday low of Rs 1,242.

The share touched its 52-week high Rs 1,299.85 and 52-week low Rs 912.05 on 12 March, 2013 and 28 August, 2013, respectively. Currently, it is trading 3.35 percent below its 52-week high and 37.74 percent above its 52-week low. Market capitalisation stands at Rs 23,612.16 crore.