ACC gained 1.53% to Rs 1,190.40 after the company said it will resume operations from 20 April 2020 in a phased manner.
On 23 March 2020, ACC announced temporary suspension of operations at various locations with a view to contain the spread of Covid-19.The Ministry of Home Affairs (MHA), Government of India, vide order dated 15 April 2020, issued revised consolidated guidelines under which industries/industrial establishments including continuous process industries and their supply chain has been allowed to operate from 20 April 2020.
ACC said it will resume operations from 20 April 2020 in a phased manner in accordance with the guidelines. The cement major said it is taking all necessary steps to adhere to the social distancing norms provided by MHA and continues to work to safeguard the interests of its employees, workers and other stakeholders in our plant locations and offices. The announcement was made after trading hours on Friday, 17 April 2020.
ACC's consolidated net profit tanked 62.69% to Rs 273.25 crore on a 4.78% increase in net sales to Rs 3,969.77 crore in Q3 December 2019 over Q3 December 2018.
ACC is engaged in manufacturing of cement and ready mixed concrete. The company's segments include cement and ready-mix concrete. The firm manufactures cement, which includes ordinary portland cement (OPC), portland pozzolana cement (PPC), portland slag cement (PSC) and ready mixed concrete (RMX). The company's products include portland cement and premium cements, bulk cement.
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