ACC rose 0.79% to Rs 1,799 at 14:45 IST on BSE after consolidated net profit vaulted 102.22% to Rs 182 crore on 25.42% rise in net sales to Rs 3054 crore in Q3 September 2017 over Q3 September 2016.
The result was announced during market hours today, 17 October 2017.Meanwhile, the S&P BSE Sensex was up 13.62 points, or 0.04% to 32,647.26.
On the BSE, 35,317 shares were traded in the counter so far, compared with average daily volumes of 25,856 shares in the past one quarter. The stock had hit a high of Rs 1,803.90 and a low of Rs 1,769.95 so far during the day. The stock had hit a record high of Rs 1,869 on 13 September 2017 and a 52-week low of Rs 1,257 on 22 November 2016.
The stock has gained 4.87% in four sessions to its ruling price, from a close of Rs 1,715.45 on 11 October 2017.
The stock had underperformed the market over the past one month till 16 October 2017, falling 1.97% compared with the Sensex's 1.12% gains. The stock had also underperformed the market over the past one quarter, gaining 1.84% as against the Sensex's 1.91% rise. The scrip had also underperformed the market over the past one year, gaining 8.81% as against the Sensex's 17.92% rise.
The large-cap company has equity capital of Rs 191.43 crore. Face value per share is Re 1.
Neeraj Akhoury, Managing Director and CEO of ACC, said that the strong result was achieved through an increased focus on premium products, improved customer service levels and by relentlessly driving productivity and cost optimization.
In its outlook, company said that it expects that demand for cement and related products will stay favourable in the coming quarter spurred by the government's increased spending on infrastructure, particularly roads, highways and affordable housing. The company is confident about the structural robustness of the cement industry and maintained a positive outlook.
ACC is a manufacturer of cement and concrete and is a member of LafargeHolcim group. The company has a countrywide network of modern cement and concrete plants, sales offices, dealers and retailers.
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