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India cement sector margins to expand - Credit Suisse

Source : REUTERS
Last Updated: Mon, Mar 11, 2013 07:08 hrs
A labourer carries a cement bag before loading it onto a truck at a railway goods yard on the outskirts of the western Indian city of Ahmedabad

Credit Suisse says margins in India's cement sector should expand over the next two years on the back of price increases and improvement in demand, among other factors.

The investment bank assigns new ratings to Indian cement companies after a change in analysts.

Credit Suisse rates ACC Ltd "outperform" with target price of 1,545 rupees, while assigning "neutral" rating to UltraTech Cement Ltd and Ambuja Cements with target prices of 1,900 rupees and 205 rupees respectively.

Credit Suisse also initiates coverage of Grasim Industries Ltd with an "outperform" rating and a target price of 3,670 rupees.

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