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:
  • Most Popular
  • Most Shared

Market Eye

REUTERS SHOWCASE

Intel's Valuation

Intel's Valuation

Intel could rise 30 percent over next two years - Barron's.  Full Article 

Plunging Oil Prices

Plunging Oil Prices

Oil price seen falling to $60 if OPEC does not cut output  Full Article 

China Economy

China Economy

Exclusive - China ready to cut rates again on fears of deflation - sources  Full Article 

Climate Change

Climate Change

Some climate change impacts unavoidable - World Bank  Full Article 

Reuters India Mobile

Reuters India Mobile

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