Morgan Stanley downgrades ACC, other cement stocks

MUMBAI Wed Feb 6, 2013 9:41am IST

A labourer carries a cement bag before loading it onto a truck at a railway goods yard on the outskirts Ahmedabad June 1, 2012. REUTERS/Amit Dave/Files

A labourer carries a cement bag before loading it onto a truck at a railway goods yard on the outskirts Ahmedabad June 1, 2012.

Credit: Reuters/Amit Dave/Files

Related Topics

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)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Fuelling Change

REUTERS SHOWCASE

NSEL Fraud

NSEL Fraud

Govt orders Financial Tech to absorb NSEL, liabilities  Full Article 

Stalemate

Stalemate

WTO prepares for crisis talks as India keeps veto on global deal.  Full Article 

Deal Talk

Deal Talk

Smartphone repair company B2X steps up expansion with Indian deal.  Full Article 

Earnings Season

Earnings Season

HDFC Bank eyes pickup in corporate credit.  Full Article 

JLR China

JLR China

JLR sees 20 percent growth in China sales this year - exec  Full Article 

Iron Ore Imports

Iron Ore Imports

JSW Steel to boost iron ore imports by up to 80 percent.  Full Article 

Pollution Levels

Pollution Levels

Delhi braces for worst air quality this Diwali week.  Full Article 

Remembering Margerie

Remembering Margerie

Total’s "Big Moustache"- bon vivant, deal-maker and risk-taker .  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage