March 20, 2018 / 5:27 AM / 4 months ago

BUZZ-MS cuts India's Hindalco Industries to 'equalweight' as volumes peak

** Morgan Stanley cuts Hindalco Industries to ‘equalweight’ from ‘overweight’ and PT to 256 rupees from 292 rupees

** “Peaking of volumes, higher cost/tonne in the Indian business and potential downside risk to Novelis’ (co’s unit) margins from import duty on aluminium,” reasons for downgrade - MS

** Brokerage remains constructive on Vedanta Ltd, focusing on volume growth and says potential cost efficiency will drive EBITDA growth in FY19

** MS maintains ‘overweight’ on Vedanta, cuts PT to 386 rupees from 395 rupees

** Morgan Stanley raises PT on Coal India Ltd to 245 rupees from 221 rupees, maintains ‘underweight’ rating saying there is lack of upside risk to earnings

** Coal India’s rising capex will slow down free cash flow - MS

** Hindalco shares down 0.19 pct, Coal India down 0.18 pct

** Vedanta shares 5.6 pct lower as stock trades ex-dividend

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