Buy cement stocks at lower levels: CK Narayan

CK Narayan, Growth Avenues Asset Advisors in an interview with ET Now talks about cement stocks.

What is the call on ACC and Ambuja?

They have certainly been hitting some sort of support levels and shown a willingness to move up from there. Particularly UltraTech Cement is one which has done that followed by Ambuja. ACC has also gradually looked up and it was indeed looking as though they would improve somewhat more.

In fact I had ACC moving to something like about 1025 and Gujarat Ambuja moving to somewhere around 136-138. I do not really see too much of a reaction in this stock. They do not have too robust a trend but at the same time, they have been really resilient in trying to withstand the downward pressure of the market. I would say that look to buy at on the lower levels particularly if this bit of news were to blow by without too much of a repercussion.