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
- U.S. strikes have slowed Iraq militants but not weakened them - Pentagon
- Health workers strike at Sierra Leone Ebola hospital
- Alibaba aims to launch share sale in early September-source
- U.S. planes strike militants, drop aid near Iraq's Amerli
- Modi seeks Japan's help for 'inclusive vision' on first big trip
A day after the best economic growth figures in more than two years greeted Prime Minister Narendra Modi's first three months in office, the finance minister on Saturday predicted faster growth to come. Full Article
Exclusive: Reliance plans $13 billion projects including new refinery. Full Article