Like Ultratech, add into portfolio on correction: Deven Choksey

Deven Choksey of KRChoksey Investment Managers told CNBC-TV18, "The capacity of Ultratech Cement is probably the largest today after the acquisition. I think that is where I think my viewpoint would be that larger the capacity better the efficiency and ultimately I think higher amount of profits at the bottomline level. I do agree that the acquired capacity would have its own challenges as far as the cost rationalisation is concerned, at least in the near future but at the same time I think with the improvement in the market condition, I would think the likes of Ultratech and Holcim Group would have larger say in this entire prospects in the cement business because of the capacity that they have, higher utilisation prospects that they are sitting on and at the same time better profits that they would be able to produce in coming quarters.""So, I do like this company however I think the caution would be that when the market is in corrective down mode and the corrective downslide or whatever you call it, at that time one should be adding the stock into the portfolio," he said.