ACC Share Price Declines 8%; Aurobindo Pharma and Ashok Leyland Close Lower
Indian markets closed negative due to selling in banking and blue-chip stocks. Adani Group stocks pulled the indices down. Markets tried to recover but selling was witnessed during the afternoon session as well. There were some stocks that managed to close positive today but ACC was among major losers in today's session.
Aditya Birla Capital (Rs 183.01) opened higher but slipped marginally, losing 0.95% by close. This dip reflects a correction after a week of robust gains. ABFRL (Rs 284.40), part of the same conglomerate, followed a similar trend with a 1.66% drop, mirroring cautious investor sentiment.
ACC (Rs 2027.20) had a rough day, shedding 7.25%, primarily due to cooling demand in the cement sector. Alkem Laboratories (Rs 5604.75) defied the trend, gaining 1.35%, driven by its strong pharmaceutical pipeline and ongoing expansion efforts.
APL Apollo Tubes (Rs 1440.50) dipped 1.79%, reflecting mild profit booking. Apollo Tyres (Rs 481.30) also closed lower, with a 1.02% drop, though analysts maintain optimism about its long-term growth, supported by rising auto sales.
Ashok Leyland (Rs 218.90) showed stability, losing just 1.10% amidst broader market pressures. The auto giant continues to innovate, keeping investors hopeful. Meanwhile, Astral Ltd. (Rs 1713.90), a leader in piping solutions, saw a 0.88% decline, balancing out recent gains.
AU Small Finance Bank (Rs 593.90) closed up 0.49%, showing resilience in the banking sector. Finally, Aurobindo Pharma (Rs 1220.00) dipped 2.40%, as investors await clarity on regulatory matters.
This mixed performance underscores the importance of diversification in portfolio strategy. Key winners like Alkem Laboratories and AU Small Finance Bank bring optimism, while corrections in stocks like ACC serve as reminders of sector-specific dynamics.