ACC shares soar nearly 14% after Q2 earnings

Shares of cement major ACC Ltd today surged nearly 14 per cent after the company reported a rise, albeit marginally, in the consolidated net profit at Rs 329 crore for the June quarter.

After a positive opening the stock further jumped 13.60 per cent to Rs 1,482.90 on BSE.

On NSE, shares of the company soared 13.28 per cent to Rs 1,484.90.

Buying was also seen in other cement stocks, where Dalmia Bharat was trading higher by 8.25 per cent, Grasim Industries - 7.79 per cent, HeidelbergCement - 4.81 per cent, JK Lakshmi Cement - 4.71 per cent and UltraTech Cement - 4.52 per cent on BSE.

 

The company had posted Rs 326 crore profit in April-June period of last fiscal, ACC Ltd said in a BSE filing yesterday.

In the second quarter, cement sales volume was at 7.24 million tonnes as against 6.74 million tonnes, up 7 per cent.