Shares of cement maker ACC Friday plunged over 7 per cent after the company's September quarter earnings failed to meet investors expectations.
The stock dropped 7.32 per cent to end at Rs 1,427.20 on the BSE. Intra-day, it tumbled 8.30 per cent to Rs 1,411.95.
On the NSE, shares of the company dived 7.29 per cent to settle at Rs 1,427.40.
The company's market valuation dropped Rs 2,116 crore to Rs 26,801 crore on the BSE.
ACC Wednesday reported 15.20 per cent increase in its consolidated net profit at Rs 209.14 crore for the third quarter ended September 30, led by volume growth spurred by higher demand.
The company, which follows January-December fiscal, had posted a net profit of Rs 181.53 crore during the year-ago period, ACC said in a BSE filing.
Total income from operations was up by 10.35 per cent to Rs 3,465.92 crore as against Rs 3,140.76 crore in the September quarter of 2017.
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