Cement sector is expected to remain in focus on Wednesday. A recent report by JP Morgan on the cement sector is creating a buzz around the cement stocks. Zee Business’ Ashish Chaturvedi has this detailed report. Take a look!

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Chaturvedi said that the financial services company has revised its targets on many cement stocks.

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Cement Stocks

Shree Cement shares – JP Morgan has now put a rating of ‘Under Performer’ from ‘Neutral with a revised target price of Rs 23,300 from an earlier target of Rs 26,500.

Ultratech Cement shares – This share has also been downgraded to neutral from overweight. The target price has been revised to Rs 6890 from Rs 7560.

ACC shares – JP Morgan has maintained its stance on ACC keeping it into the overweight category. It has revised its target upwards from Rs 2250 to Rs 2450.

Grasim Industries shares – It has also put Grasim Industries under the overweight category and revised the target price up at Rs 1820 from the earlier target price at Rs 1750.

The report said that cost inflation has been considered and there has been good momentum in the cement stock for quite some time. This is the reason behind re-ratings in some of the stocks.

He further said that IT stocks will also remain focus. He said that there is a positive commentary by Morgan Stanley on Infosys stocks. The brokerage firm has maintained its overweight rating on the company and put a target price of Rs 1800 on Infosys stocks.

Infosys stocks were trading at Rs 1577 on the NSE at 10 am, gaining almost Rs 14 or 0.9 per cent from the previous closing price on Wednesday.

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He said that Morgan Stanley expects the Infosys to completely outperform the index over the next 60 days. He said that the growth triggers in FY 22 are also very good.