MARKET EYE-Government measures to boost cement demand
* India's cement industry will witness a sharp recovery in cement prices in fiscal 2013-14, on improving supply-demand dynamics and the government action to fast track infrastructure projects, analysts say. * Deutsche Bank believes cement companies such as UltraTech Cement and Shree Cement that have potential to increase capacity and have a bigger presence in western and northern India will witness "disproportionate benefits". * Bank of America Merrill Lynch upgrades Ultratech Cement and India Cements to 'buy' from 'underperform' in reports dated on Friday. * Morgan Stanley maintains an 'attractive' view on the sector, and recommends investors to buy cement stocks on weakness because on expectations of easing capacity addition and pickup in cement demand, in a report dated Friday. * Mid-cap cement companies outperform large caps: India Cements gains 0.7 percent, JK Cement is up 1 percent while Madras Cement rises 1.8 percent. * Ultratech Cement shares are down 1.2 percent, ACC gains 0.1 percent. * The thomsonreuters construction materials index down 0.08 percent as of 1.25 pm. (email@example.com)
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DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.
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The government made a push on Wednesday to bolster its strained finances, offering to sell a stake in miner Coal India and more mobile phone airwaves as it aimed to deliver on a promise to trim its fiscal deficit. Full Article