ACC drops after reporting dismal Q1 numbers

ACC fell 0.07% to Rs 1,428.35 at 14:45 IST on BSE after consolidated net profit dropped 4.05% to Rs 226.95 crore on 1.45% rise in net sales to Rs 2927.38 crore in Q1 March 2016 over Q1 March 2015.

The result was announced during market hours today, 28 April 2016.

Meanwhile, the BSE Sensex was down 372.34 points, or 1.43%, to 25,691.78.

On BSE, so far 39,000 shares were traded in the counter, compared with an average volume of 20,553 shares in the past one quarter. The stock hit high of Rs 1,444.85 and low of Rs 1,409.55 so far during the day. The stock hit a record high of Rs 1,545 on 29 April 2015. The stock hit a 52-week low of Rs 1,173.25 on 29 February 2016. The stock had outperformed the market over the past one month till 27 April 2016, rising 4.3% compared with Sensex's 2.87% gains. The scrip had also outperformed the market in past one quarter, gaining 16.13% as against Sensex's 6.42% gains.

The company has an equity capital of Rs 187.75 crore. Face value per share is Rs 10.

ACC is a manufacturer of cement and ready mixed concrete with a countrywide network of factories and sales offices.

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