Stock market analysts have maintained ‘buy’ rating on ACC Ltd with an intraday target of Rs 782.

According to them, interested traders can purchase the stock above RS 776 with a strict stop loss of Rs 768.

If the stock markets remain on the positive path then the stock price will hit a target above Rs 790.

Shares of the company, on Friday (Nov 20), closed at Rs 966.45 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 920 and a low of Rs 383.20 on BSE.

Current EPS & P/E ratio of the stock stood at 86.65 & 8.96 respectively.

ACC cement announced that its production during the last month (Oct 2009) declined to 1.71 million tonnes as compared to 1.74 million tonne in October last year.

The company said stated that that its dispatches during Oct remained down at 1.69 million tonnes as compared to 1.7 million tonnes.

However, ACC’s cumulative production during the month surged to 17.83 million tonnes as against 17.23 million tonnes in 2008 and dispatches went up to 17.81 million tonnes.

ACC announced a phenomenal growth in its standalone net profit for the three month period ended September 30, 2009.

During the period under review, the company’s profit surged 53.70% to Rs 4,356.30 million as compared to Rs 2,834.34 million during the corresponding period of 2008.

The company recorded an increase of 9.97% in its net sales, which stood at Rs 19693.94 million.

ACC Ltd recorded an EPS of Rs 23.21 per share during the period, registering 53.71% growth over last year period.

Associated Cement Companies (ACC) is the country’s leading producer of cement and ready mix concrete.

ACC Ltd was established in the year 1936 when 10 cement makers belonging to Dinshaw, Khatau, Dinshaw Tata and Killick Nixon were merged to shape a single unit.