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Morgan Stanley downgrades ACC, other cement stocks

Source : REUTERS
Last Updated: Wed, Feb 06, 2013 04:29 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

Morgan Stanley cut its ratings on ACC 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.

Morgan Stanley cut its ratings on ACC, Ambuja Cements and UltraTech Cement to "equalweight" from "overweight", while cutting its view on the cement industry to "in-line" from "attractive."

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