Morgan Stanley downgrades ACC, other cement stocks
MUMBAI (Reuters) - Morgan Stanley cut its ratings on ACC(ACC.NS) and two other cement companies to "equalweight" from "overweight", saying valuations already reflect expectations of firmer cement prices and a "structurally positive" outlook for the sector.
Morgan Stanley cut its ratings on ACC, Ambuja Cements(ABUJ.NS) and UltraTech Cement (ULTC.NS) to "equalweight" from "overweight", while cutting its view on the cement industry to "in-line" from "attractive."
(Reporting by Mumbai markets team; Editing by Subhranshu Sahu)
- Tweet this
- Share this
- Digg this
- Pennsylvania newlyweds "just wanted to murder someone together:" police
- Exit polls see gains for BJP in state elections
- UPDATE 2-Soccer-English premier league results and standings
- Pennsylvania newlyweds "just wanted to murder someone together" - police
- UPDATE 7-Soccer-English premier league top scorers
The World Trade Organization reached its first ever trade reform deal on Saturday to the roar of approval from nearly 160 ministers who had gathered on the Indonesian island of Bali to decide on the make-or-break agreement that could add $1 trillion to the global economy. Full Article