Deutsche Bank downgrades Associated Cements Co to 'hold'

Feb 08 2013, 08:45 IST
Comments 0
The bank also cut its price target on the stock to 1,315 rupees from 1,610 rupees. (Reuters) The bank also cut its price target on the stock to 1,315 rupees from 1,610 rupees. (Reuters)
SummaryThe bank also cut its price target on the stock to 1,315 rupees from 1,610 rupees.

Deutsche Bank downgraded Associated Cements Co Ltd to "hold" from "buy", saying ACC's October-December earnings had come below its forecast and noting lower demand and prices for cement are casting doubts about the health of the industry.

Deutsche also cut its price target on the stock to 1,315 rupees from 1,610 rupees.

ACC Ltd on Thursday reported a 49 percent fall in net profit for the October-December quarter.

Ads by Google
Reader´s Comments
| Post a Comment
Please Wait while comments are loading...