Deutsche Bank has upgraded India Cements to "buy" from "hold", while cutting its target price to Rs 106 from Rs 120, citing favourable risk-reward on attractive valuations and improving returns on equity profile.
The investment bank says India Cements is trading at the bottom of its 18-year range and looks to have factored in most of the negatives.
At 9:33 a.m. shares in India Cements were up 2.4 per cent at Rs 83.
Copyright Thomson Reuters 2012
The investment bank says India Cements is trading at the bottom of its 18-year range and looks to have factored in most of the negatives.
At 9:33 a.m. shares in India Cements were up 2.4 per cent at Rs 83.
Copyright Thomson Reuters 2012
