Buy cement stocks at lower level: R Shah

Angel Broking is of the view that one can buy cement stocks at lower level.
Shah told CNBC-TV18, "Cement companies have put in very good numbers for the June quarter actually and surprised most of the analysts. They are quoting at really interesting levels but a poor monsoons, so shortage of water is going to be there and we are not going to feel that right now. But probably next year in the month of March-April-May we could see a construction activity taking a hit because I have never seen such kind of situation – I mean 11 days of August have passed and there is absolutely no rain in a place like Mumbai, so I have never seen this kind of August in my entire lifespan of 39 years. The impact is going to be there, so I would rather be cautious and may be wait for lower levels to get into the market and cement stocks."