ACC recovers on bargain hunting

ACC rose 1.74% to Rs 1,147.50 at 10:26 IST on BSE, with the stock recovering on bargain hunting after 4-day 4.14% slide.

Meanwhile, the S&P BSE Sensex was up 13.96 points or 0.08% at 18,451.74.

On BSE, 3,949 shares were traded in the counter as against average daily volume of 26,923 shares in the past one quarter.

The stock hit a high of Rs 1,151.90 and a low of Rs 1,134.90 so far during the day. The stock had hit a record high of Rs 1,514.95 on 15 October 2012. The stock had hit a 52-week low of Rs 1,105.05 on 4 June 2012.

The stock had underperformed the market over the past one month till 8 April 2013, sliding 10.68% compared with the Sensex's 6.33% fall. The scrip had also underperformed the market in past one quarter, declining 20.29% as against Sensex's 6.61% fall.

The large-cap cement company has equity capital of Rs 187.75 crore. Face value per share is Rs 10.

Shares of ACC had declined 4.14% in four trading sessions to settle at Rs 1,127.90 on Monday, 8 April 2013, from a recent high of Rs 1,176.70 on 2 April 2013.

ACC's consolidated net profit declined 45.8% to Rs 251.24 crore on 1.9% growth in net sales to Rs 2691.52 crore in Q4 December 2012 over Q4 December 2011.

Switzerland's Holcim held 50.01% in ACC (as per the shareholding pattern on 31 March 2013).

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