Be cautious while investing in cement stocks: Piyush Garg, ICICI Securities

In a chat with ET Now, Piyush Garg, Chief Investment Officer, ICICI Securities, shares his views about the cement sector.

ET Now: What is your call on the cement sector stocks?

Piyush Garg: Cement has been a surprising pack overall in the market from last one or two years. Most of the analyst have been either more negative or neutral on this sector but not positive.

The stocks have given phenomenal returns but these are commodity stocks and they are trading expensive compared to their historical averages. In my view, one should be careful at these levels.