Prefer cement stocks: Deven Choksey

Deven Choksey of KR Choksey Securities told CNBC-TV18, "We have carried on with higher weight on cement since last three to four months and we continue to hold on to it. Honestly after the Budget we haven’t increased any further weight into this space. We believe that for the long-term the cycle has turned bullish as far as cement is concerned. What we are likely to see is going to be higher amount of capacity utilisation in many of the cement companies cases where it would result into better profit performance at the bottomline level."

"Certainly we maintain our view that the cement could possibly have entered into the three to four years of up cycle and it makes case to stay invested into this particular space. Corrective downside in the market is always welcome to add into further as far as the portfolio in the cement is concerned," he added.