UltraTech Cement likely to do well in long term: Sabharwal

Sandip Sabharwal of asksandipsabharwal.com told CNBC-TV18, "UltraTech Cement is a company which has been making lot of strategic moves. So just on valuation it is difficult to give a buy on that stock. However, strategically the company is moving in the right direction. It has been able to buy assets which lots of other companies have been looking at and to that extent its domination of the market has been growing."

"I have tracked the stock pretty closely and I have always liked the asset life model of the company and this was one of my key recommendations to clients as well as personally at the beginning of 2014. Stock has done well and the company is rightly position near term. Valuations could be bit if a concern but directionally the company should do well over the next few years," he added.