Deutsche raises EPS estimates of cement companies
Deutsche Bank has raised earnings per share estimates for cement companies under its coverage by 3-14% on assumption of better all-India pricing growth. The bank said Indian cement prices have been strong having gained 10% so far this year as industry cost leaders have lowered the competitive intensity and attempted to improve profitability after a weak calendar year 2018. Deutsche has raised its all-India pricing growth assumption by 6% year-on-year for the ongoing financial year from 4%, and has estimated that more upgrades are likely on the Street as improving realization trends are factored in.
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