CLSA prefers UltraTech over Ambuja Cements. Here’s why
The Adani Group completed the acquisition of Ambuja Cements and its subsidiary ACC from Switzerland’s Holcim Group for $6.4 billion in the last month.The CLSA said the cement sector is likely to be at a multi-quarter low in 2QFY23, on lower prices and higher costs. “We expect margins to recover in 3QFY23 on lower fuel prices and benefits of operating leverage,” it said.
