Deutsche Bank downgrades ACC to 'hold'

MUMBAI Fri Feb 8, 2013 8:47am IST

Related Topics

Stocks

   

MUMBAI (Reuters) - Deutsche Bank downgraded India's ACC Ltd (ACC.NS) to "hold" from "buy", saying October-December earnings had come below its forecast and noting lower demand and prices for cement are casting doubts about the health of the industry.

Deutsche also cut its price target on the stock to 1,315 rupees from 1,610 rupees.

ACC Ltd (ACC.NS) on Thursday reported a 49 percent fall in net profit for the October-December quarter.

(Reporting by Abhishek Vishnoi; Editing by Gopakumar Warrier)

FILED UNDER:

REUTERS SHOWCASE

Market Eye

Market Eye

Sensex, Nifty gain for third day; defensives in focus   Full Article 

Oil Prices

Oil Prices

Brent climbs above $62 as Asian markets open strong  Full Article 

Tracking Gold

Tracking Gold

Gold inches up but holds below $1,200 on robust equities, dollar  Full Article 

Cyber Attacks

Cyber Attacks

China condemns cyberattacks, but does not mention North Korea  Full Article 

Connecting Markets

Connecting Markets

China stock connect scheme scorecard throws up surprises  Full Article 

Reuters India Mobile

Reuters India Mobile

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