This Article is From Feb 08, 2013

Deutsche Bank downgrades ACC to 'hold'

Deutsche Bank downgrades ACC to 'hold'

Deutsche Bank downgraded ACC Ltd to "hold" from "buy", saying 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 Rs 1,315 from Rs 1,610.

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


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