Expect cement pack to go sideways for atleast next quarter: Harendra Kumar, Elara Capital

In a chat with ET Now, Harendra Kumar, Managing Director-Institutional Equities, Elara Capital, shares his views on the current outlook of the cement sector. Excerpts:

ET Now: What is your overall view on UltraTech and on cement sector?

Harendra Kumar: The numbers in UltraTech were missing from the estimates; we are expecting small correction for UltraTech before one can look to accumulate that stock.

Overall, the cement pack will go through a sideways quarter at least for the next one quarter, given the slowdown in housing as well as commercial activity. However, these are cash-rich companies and people tend to hold it more for defence with very little hiding places. Thus, it will be one of the preferred sectors for portfolio investors.