Buy Heidelberg with target of 51: Pankaj Pandey

In a chat with ET Now, Pankaj Pandey, Head of Research, ICICI Direct shares his views on cement stocks.

ET Now: What is your call on cement stocks?

Pankaj Pandey: We have preferred the mid-cap cement space compared to the large cap ones because of the divergence and valuation. On the earnings front, we do not expect much of earnings growth. Especially in this year if you look at the consumption growth, it has been in low single digits. Any sort of a good number might come only in November because we still have an extended monsoon, which is still continuing. So, which is where probably this quarter also may not be really very good for them but next quarter things could improve. Amongst stocks, we like Heidelberg with a target price of 51.