ACC rose 0.38% to Rs 1,568 at 13:55 IST on BSE after the company said that Sindri cement grinding unit in Jharkhand started commercial production from 22 October 2016.
The announcement was made during market hours today, 24 October 2016.Meanwhile, the BSE Sensex was up 155.93 points, or 0.56%, to 28,233.11.
On BSE, so far 29,000 shares were traded in the counter, compared with average daily volume of 34,304 shares in the past one quarter. The stock hit a high of Rs 1,584.95 and a low of Rs 1,552 so far during the day. The stock hit a 52-week high of Rs 1,738 on 8 August 2016. The stock hit a 52-week low of Rs 1,173.25 on 29 February 2016. The stock had underperformed the market over the past 30 days till 21 October 2016, falling 6.23% compared with 2.42% decline in the Sensex. The scrip had also underperformed the market in past one quarter, sliding 7.25% as against Sensex's 0.99% rise.
The large-cap company has equity capital of Rs 187.79 crore. Face value per share is Rs 10.
ACC said that the 1.35 million tonnes, Sindri cement grinding unit in Jharkhand, which is a part of the Jamul integrated project, has been commissioned and commercial production has commenced with effect from 22 October 2016. The company said that the two cement grinding units in Jamul and at Sindri totalling 2.45 million tonnes per annum (MTPA) will help strengthen the company's market presence in the Eastern Region.
On a consolidated basis, ACC's net profit fell 28.85% to Rs 81.97 crore on 9.75% decline in net sales to Rs 2472.81 crore in Q3 September 2016 over Q3 September 2015.
ACC is a manufacturer of cement and ready mixed concrete with a countrywide network of factories and sales offices.
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