ACC gains after commencing commercial production at clinker facility

ACC was up 1.47% to Rs 1,627.50 at 14:44 IST on BSE after the company said it has commenced commercial production at its new state-of-the-art 2.79 million tonne per annum clinker facility at Jamul, located in Chhattisgarh.

The announcement was made during market hours today, 20 July 2016.

Meanwhile, the S&P BSE Sensex was up 116.39 points or 0.42% at 27,904.01.

On BSE, so far 17,000 shares were traded in the counter as against average daily volume of 19,056 shares in the past one quarter. The stock hit a high of Rs 1,633.40 and a low of Rs 1,604 so far during the day. The stock had hit a 52-week high of Rs 1,640 on 15 July 2016. The stock had hit a 52-week low of Rs 1,173.25 on 29 February 2016. The stock had underperformed the market over the past one month till 19 July 2016, advancing 3.36% compared with Sensex's 4.36% rise. The scrip had, however, outperformed the market in past one quarter, gaining 9.51% as against Sensex's 7.64% rise.

The large-cap company has equity capital of Rs 187.79 crore. Face value per share is Rs 10.

ACC said that two new cement grinding facilities, one each at Jamul in Chhattisgarh and Sindri in Jharkhand, which form part of this integrated project, are expected to be commissioned within third quarter of 2016. This project will facilitate the company in serving its expanding customer base in the fast-growing market in East India, offering premium quality products like ACC F2R (Foundation to Roof), ACC Plus and Hi-performance PSC cements for complete concreting solutions, ACC said in a statement.

ACC is scheduled to announce its Q2 June 2016 results on 26 July 2016. The company's consolidated net profit fell 4.1% to Rs 226.95 crore on 1.5% growth in net sales to Rs 2927.38 crore in Q1 March 2016 over Q1 March 2015.

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

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