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4 years ago
MARKET EYE-Credit Suisse ups India's Ambuja Cements to 'outperform'
April 9, 2013 / 8:33 AM / 4 years ago

MARKET EYE-Credit Suisse ups India's Ambuja Cements to 'outperform'

* Credit Suisse upgrades Ambuja Cements Ltd to
"outperform" from "neutral", citing the company's exposure to
northern India, a region where the investment bank says low new
supply and higher existing capacity are keeping cement prices
high.
* Credit Suisse also mentions "more compelling" valuations and
improving recovery in margins and demand growth for the sector
as reasons for its upgrade in a report on Tuesday.
* Ambuja Cements are up 2.5 percent as of 0823 GMT.

 (subhadip.sircar@thomsonreuters.com/
abhishek.vishnoi@thomsonreuters.com@reuters.net)

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