Hold ACC, says Mihir Jhaveri

Mihir Jhaveri of Religare Capital Markets told CNBC-TV18, "On ACC-Ambuja it is pretty difficult when this has happened since two years back and at that point of time also we are looking at a lot of synergies will happen between ACC and Ambuja Cement and in fact ACC there has not been much of synergy which has come in. Even the EBITDA per tonne for ACC has been one of the lowest. You can say even lower than some of the midcap companies.""The deal has also been stuck through some hurdles which has to be passed on plus now you have Lafarge into picture as well. So, how this entire three company deal will fructify and we will wait and watch for that. So, nothing really now we can say about it. As far as stock is concerned, obviously ACC is amongst the weakest performer and we have a hold rating on the stock. So, we don't really like ACC, on a relative basis we like UltraTech more than ACC. So, that is what our stance is and we maintain that," he added.