10/14/2020 Cement shares gain on Jefferies rating upgrade; Ramco Cements rises 5%, UltraTech gains 4% - cnbctv18.com TRENDING #NIFTY #USELECTIONS #CORONAVIRUS #INDIACHINA #FUTUREPROOFBUSINESS NIFTY Home Market Stocks Market Cement shares gain on Jefferies rating upgrade; Ramco Cements rises 5%, TRENDING ON CNBC-TV18 UltraTech gains 4% Updated : October 13, 2020 11:49 AM IST Jefferies upgraded UltraTech Cement to 'buy' with a target at Rs 5,150 per share lifting the stock 4 percent higher. ACC and Ambuja Cements advanced 2.5 percent and 3.3 Smart Living percent, respectively as Jefferies maintains 'buy' calls on both the stocks. Four gadgets you should invest in for good health The brokerage upgraded the EBITDA estimate for the Market sector by 4-5 percent over FY21-23. India's economic growth likely to pick up soon, says Morgan... Economy We should remove exemptions and https://www.cnbctv18.com/market/stocks/cement-shares-gain-on-jefferies-rating-upgrade-ramco-cements-rises-5-ultratech-gains-4-7182881.htm 1/5 10/14/2020 Cement shares gain on Jefferies rating upgrade; Ramco Cements rises 5%, UltraTech gains 4% - cnbctv18.com e e pt o s a d deductions in a phased ement stocks rose on Tuesday after brokerage house Jefferies C turned constructive on the PRANATI sector and believes that the demand DEVA outlook is improving. It has revised estimates for volumes, realisations and operating costs. The brokerage upgraded the EBITDA estimate for the sector by 4-5 percent over FY21-23. Individually, the brokerage upgraded Ramco Cements to 'buy' with a target at Rs 900 per share. The stock rose as much as 5 percent to Rs 795.50 on BSE following the upgrade. Jefferies also upgraded UltraTech Cement to 'buy' with a target at Rs 5,150 per share lifting the stock 4 percent higher to Rs 4,473.30 per share on BSE. Shree Cement also added 2.6 percent to Rs 21,501.50 per share after an upgrade LIVE TV by the brokerage from 'underperform' to 'hold' rating with a target at Rs 23,000. Other Cement stocks ACC and Ambuja Share Cements advanced 2.5 percent and 3.3 percent, respectively as Jefferies maintains 'buy' calls on both the stocks. Experts believe that the cement industry demand is slowly improving on the back RECOMMENDED FOR YOU of pent-up demand in the economy https://www.cnbctv18.com/market/stocks/cement-shares-gain-on-jefferies-rating-upgrade-ramco-cements-rises-5-ultratech-gains-4-7182881.htm 2/5 10/14/2020 p Cementp shares gain on Jefferies rating upgrade;y Ramco Cements rises 5%, UltraTech gains 4% - cnbctv18.com coming after the phase-wise relaxations Auto Honda l aun ches special amid the pandemic. edition of Amaze ahead of festive season The cement sector witnessed a significant demand growth in the month Market of September 2020. The industry Closing Bell: Market rallies for 10th straight demand has risen 20 percent MoM and session; Sensex... over 10 percent, YoY. Economy CARE Ratings, in a recent report, SC Loan Moratorium mentioned that the rural demand will be Hearing LIVE Updates: Justice Ashok the major driver for cement, however, the demand has been subdued in urban India. The volume recovery seen in May and June, driven by strong demand from the rural and semi-urban areas, has largely sustained in 2QFY21, it added. For the September quarter, analysts at Emkay Global Financial Services expect the aggregate sales volume of coverage universe to improve 3.4 percent year on year (YoY) on a better demand scenario in the North, Central and East regions. It added that there should be further earnings upgrades for its coverage universe. “Demand recovery has surprised positively and we expect government- led infrastructure projects to further drive demand momentum. We expect cost-saving strategies to continue to benefit in Q2 and a sudden reversal in other expenses/employee costs may led to negative surprises in Q2FY21,” the brokerage firm said in Q2FY21 preview. https://www.cnbctv18.com/market/stocks/cement-shares-gain-on-jefferies-rating-upgrade-ramco-cements-rises-5-ultratech-gains-4-7182881.htm 3/5.