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Credit Suisse ups Ambuja Cements
April 9, 2013 / 8:53 AM / 5 years ago

Credit Suisse ups Ambuja Cements

Reuters Market Eye - Credit Suisse upgrades Ambuja Cements(ABUJ.NS) 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.

A woman labourer carries cement to build a sidewalk on Bombay's popular sea-front promenade in the financial district on May 30, 2004. REUTERS/Desmond Boylan/Files

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 shares are up 2 percent as of 2:10 p.m.

Reporting by Subhadip Sircar

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