ACC slips in volatile trade

ACC fell 0.24% to Rs 1,557.70 at 10:19 IST on BSE, with the stock reversing initial gain triggered by announcing resumption of limestone mining operations in Jharkhand.

The announcement was made after market hours yesterday, 10 February 2015.

Meanwhile, the BSE Sensex was up 125.53 points, or 0.44%, to 28,481.15

On BSE, so far 14,000 shares were traded in the counter, compared with an average volume of 28,446 shares in the past one quarter.

The stock was volatile. The stock rose as much as 0.86% at the day's high of Rs 1,574.90 so far during the day. The stock fell 0.7% at the day's low of Rs 1,550.40 so far during the day. The stock hit a record high of Rs 1,591.90 on 30 January 2015. The stock hit a 52-week low of Rs 992.10 on 17 February 2014.

The stock had outperformed the market over the past one month till 10 February 2015, rising 11.62% compared with 3.27% rise in the Sensex. The scrip also outperformed the market in past one quarter, rising 4.13% as against Sensex's 1.73% rise.

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

ACC said that limestone mining operations have resumed at the captive mines of the company's Chaibasa cement plant in Jharkhand in terms of the recent Mines and Minerals (Development and Regulations) Ordinance 2015. Earlier, ACC had on 10 October 2014 announced temporary suspension of mining operations at its Chaibasa and Bargarh cement plants pursuant to a judgement of the Supreme Court under deemed extension of second and subsequent renewals of mining leases.

ACC's consolidated net profit rose 18.3% to Rs 326.22 crore on 1.2% increase in total income to Rs 2879.68 crore in Q4 December 2014 over Q4 December 2013.

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

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