Orient Cement may test Rs 220: Mihir Jhaveri

Mihir Jhaveri of Religare Capital Markets told CNBC-TV18, "My target for Orient Cement is Rs 220 and for UltraTech Cement is Rs 3,400. Both are expanding their capacities and to some extent they are protected with being in regions where the price drops have not been there and they have been delivering the numbers are well. So, as far as volumes are concerned everybody will be impacted but pricing cushion is there. So, I see 20-25 percent upside in these stocks."

At 14:16 hrs Orient Cement was quoting at Rs 162.75, down Rs 1.15, or 0.70 percent.