Ambuja Cements falls ahead of Dec quarter earnings

Shares in Ambuja Cements Ltd fall 2% on expectations the company will post lower-than-expected earnings for the October-December quarter later in the day, dealers say.

Morgan Stanley reduced its rating on Ambuja Cements to "equalweight" from "overweight" on Wednesday, saying valuations already reflect expectations of firmer cement prices and a "structurally positive" outlook for the sector.