ACC lost 1.94% to Rs 1283 at 13:09 IST on BSE, with the stock extending Friday's 2.92% decline triggered by the company reporting weak Q1 earnings.
Meanwhile, the S&P BSE Sensex was almost unchanged at 22,687.89.
On BSE, so far shares were traded in the counter as against average daily volume of 29,839 shares in the past one quarter.
The stock hit a high of Rs 1,309 and a low of Rs 1,279.10 so far during the day. The stock had hit a 52-week low of Rs 912.05 on 28 August 2013. The stock had hit a 52-week high of Rs 1,402.35 on 10 April 2014.
The stock had outperformed the market over the past one month till 25 April 2014, advancing 3% compared with the Sensex's 2.87% rise. The scrip had also outperformed the market in past one quarter, jumping 30.85% as against Sensex's 7.36% rise.
The large-cap company has equity capital of Rs 187.75 crore. Face value per share is Rs 10.
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Shares of ACC have fallen 4.8% in two trading sessions from a recent high of Rs 1347.75 on 23 April 2014 after the company on Thursday, 24 April 2014, announced weak Q1 March 2014 results. The stock had fallen 2.92% to settle at Rs 1308.40 on Friday, 25 April 2014. The stock market was closed on Thursday, 24 April 2014, on account of Parliamentary elections in Mumbai constituency.
ACC's consolidated profit after tax (PAT) fell 8.8% to Rs 399.85 crore on 2.1% increase in net sales to Rs 2967.14 crore in Q1 March 2014 over Q1 March 2013. The company announced the results on Thursday, 24 April 2014.
ACC said that profit after tax in Q1 March 2014 includes write back of tax of Rs 113 crore on conclusion of earlier years' assessments as compared to Rs 141 crore in this respect in the corresponding quarter of the previous year.
ACC said that in Q1 March 2014, the cement industry did not experience any significant improvement in the pace of infrastructure development and general construction. With no uptrend in the demand for cement, the company's sales volume in Q1 March 2014 was at about the same level as in the corresponding period of previous year. The company's EBITDA declined to Rs 425 crore in Q1 March 2014, from Rs 492 crore in Q1 March 2013.
ACC said that its manufacturing costs faced escalations in the cost of major inputs viz. coal, fly ash and gypsum. On the positive side, the company continued to derive benefit from its ongoing cost leadership efforts and increased sales volume of premium products. ACC added that while it does not foresee any significant improvement in the cement market in the near term, the company will continue to drive its cost leadership and customer excellence programmes to enhance sales realizations and improve margins.
ACC is among lndia's leading manufacturers of cement.
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