February 6, 2013 / 4:15 AM / 5 years ago

Morgan Stanley downgrades ACC, other cement stocks

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

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

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