Cement stocks on the cusp of a new growth cycle: Morgan Stanley SECTIONS Last Updated: Mar 10, 2021, 03:30 PM IST Share Synopsis Shares of cement companies have been on an uptrend, especially after the Union Budget allocated more for the infrastructure projects. Morgan Stanley upgraded Grasim Industries to overweight, for which it has a target of Rs 1,700. It retained an overweight rating on Ambuja Cements and Ultratech Cement with targets of Rs 360 and Rs 8,000, respectively. Related NSE Explore Now NEW DELHI: Cement companies are on the cusp of a new cycle that will lead to a long-term appreciation in share prices, Morgan Stanley said, raising earning estimates and price targets for most of the stocks under its coverage.