ACC dropped 0.79% to Rs 1,470 at 9:20 IST on BSE after the limestone mining operations at its Chaibasa cement works have been suspended on account of requirement of further clearances from the Government of Jharkhand.
The company made announcement after market hours on Friday, 3 July 2015
Meanwhile, the S&P BSE Sensex was down 171.84 points or 0.61% at 27,920.95.
On BSE, so far 127 shares were traded in the counter as against average daily volume of 25,474 shares in the past one quarter.
Shares of cement manufacturer hit a high of Rs 1,475 and a low of Rs 1,464.10 so far during the day. The stock hit a record high of Rs 1,774.80 on 2 March 2015. The stock hit a 52-week low of Rs 1,337.90 on 7 January 2015.
ACC said the company is in discussion with the concerned authorities in this regard and expects that limestone mining operations would resume shortly, ACC said. Cement grinding continues with transfer of clinker from sister works/purchase of clinker, it added. The impact of the closure of the mining operations at Chaibasa is not expected to be material, ACC said.
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