BSE Code: | NSE Code: | ISIN: | Sector:
Research Report Detail
|Report Date||Call||Price@Call||Target Price
|Current Status||Time Horizon|
Nomura maintains neutral on ACC
As demand improves and capacity utilisation bottoms out, industry margins will improve but expected margins over FY15-17F are still below mid-cycle levels. Stocks should be valued above mid-cycle multiples as the earnings growth trajectory beyond FY17F looks strong on the industry's growing pricing power.