MARKET EYE-Indian cement shares fall; earnings fail to impress

Fri Feb 8, 2013 12:10pm IST

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* Shares in Indian cement makers fall after October-December
earnings fail to impress investors.
* Ambuja Cements' net profit fell by 29.8 percent to
2.12 billion rupees, while ACC Ltd on Thursday reported
a 49 percent fall in net profit.  
* Weak results are dashing some of last month's optimism that
cement prices would rise if capacity lags demand.
 
* Deutsche Bank downgraded ACC rating to "hold" from "buy",
saying October-December earnings had come in below its forecast
and noting lower demand and prices for cement were casting
doubts about the health of the industry. 
* Ambuja Cements shares fall 5.2 percent while ACC is down 1.8
percent.

 (abhishek.vishnoi@thomsonreuters.com /;
abhishek.vishnoi.thomsonreuters.com@reuters.net)
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