Sell Ambuja Cements, says Rajesh Agarwal

Rajesh Agarwal of Aum Capital told CNBC-TV18, "Ambuja Cements is a sell because although the numbers were better than expectations due to lower cost and there is a story of construction and infrastructure, but valuation wise it is trading at a P/E of more than Rs 30 which is quite stretched. I would say switch from this to Century Textiles or UltraTech Cement, which stands on a better footing."Ambuja Cements closed at Rs 248.85, up Rs 6.85, or 2.83 percent on the BSE.