ACC shares down 1.04% as Sensex falls

Shares of ACC Ltd. fell 1.04 per cent to Rs 2018.7 in Wednesday's session as of 12:12PM (IST) even as the equity benchmark Sensex traded 427.23 points lower at 66000.86.

Earlier in the day, the stock witnessed a gap up start to the session. The stock quoted a 52-week high price of Rs 2674.45 and a 52-week low of Rs 1593.5 on NSE. Around 4795 shares changed hands on the counter till 12:12PM (IST).

The stock opened at Rs 2040.05 and has touched an intraday high and low of Rs 2042.0 and Rs 2014.0 during the session so far. The counter quoted a price-to-earnings (PE) ratio of 52.08, earnings per share (EPS) of Rs 38.74 and price to book value (PB) of 2.22, while the return on equity (ROE) stood at Rs 6.26.

Promoter/ FII Holding
The promoters held 56.69 per cent stake in the company as of October 18, while FII and MF ownerships stood at 7.1 per cent and 12.52 per cent, respectively.

Key Financials
With a market capitalisation of Rs 37888.9 crore, the company operates in the Cement - Pan India industry. For the quarter ended 30-Jun-2023, the company reported consolidated sales of Rs 5278.02 crore, up 7.49 per cent from the previous quarter?s Rs 4910.06 crore and up 16.71 per cent from the same quarter a year ago. The company reported net profit of Rs 466.1 crore for the latest quarter, up 105.04 per cent from the corresponding quarter last year.

Technical Indicators
The relative strength index (RSI) of the stock stands at 51.34. The RSI oscillates between zero and 100. Traditionally, it is considered overbought condition when the RSI value is above 70 and oversold condition when it is below 30. Analysts say the RSI indicator should not be seen in isolation, as it may not be sufficient to take a trading call, just the way a fundamental analyst cannot give a "buy" or "sell" recommendation using a single valuation ratio.