ACC gains after stabilising operations of new cement grinding unit

ACC rose 2.52% to Rs 1,667.05 at 15:00 IST on BSE after the company announced that it has successfully stabilized operations of new cement grinding unit in Jamul, Chattisgarh.

The announcement was made during market hours today, 10 October 2016.

Meanwhile, the S&P BSE Sensex was up 35.84 points or 0.13% at 28,096.98.

On BSE, so far 14,175 shares were traded in the counter as against average daily volume of 34,521 shares in the past one quarter. The stock hit high of Rs 1,674 and low of Rs 1,619.80 so far during the day.

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

ACC said that the operations of the new cement grinding unit in Jamul which went into commercial production from 14 September 2016 have also been successfully stabilized. The cement dispatched from this new grinding unit has been well accepted in the market. The company has already completed and commenced commercial production of the new clinkering line at Jamul in July 2016. The cement grinding unit based at Sindri in Jharkhand also forming part of the company's new Jamul project is expected to go on stream in November 2016.

ACC's consolidated net profit rose 79.2% to Rs 239.12 crore on 3.1% fall in net sales to Rs 2869.84 crore in Q2 June 2016 over Q2 June 2015.

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

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