Deutsche Bank downgrades Associated Cements Co to 'hold'
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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.