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Morgan Stanley downgrades ACC, other cement stocks
February 6, 2013 / 4:15 AM / 5 years ago

Morgan Stanley downgrades ACC, other cement stocks

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.

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

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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