Stock market analysts have maintained ‘Buy’ rating on ACC stock to achieve a target of Rs 790 within 4 to 5 trading sessions.

According to analysts, investors can buy the stock on dips with a stop loss of Rs 700.

Shares of the company, on Friday (May 22), closed at Rs 729 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 782 and a low of Rs 369 on BSE. Current EPS and P/E of the stock stood at 67.13 & 10.86 respectively.

ACC, the country’s biggest cement manufacturer, on May 04, announced that it sold 1.8 million tons (MT) of cement during April 2009. The figure was 4% up as against 1.73 million tons (MT) during the corresponding period of 2008.

ACC’s April cement production surged to 1.84 MT against 1.80 MT, up 2% year on year (y-o-y.

The company posted a growth of 23.14% in the consolidated net profit after tax for the three month period ended March 31, 2009.

ACC announced a consolidated net profit of Rs 3,993.40 million as compared to Rs 3,243.10 million during the last quarter.

Total consolidated income during the period under review stood at Rs 21,640 million, an increase of 14.10% as against the corresponding period of 2008.

ACC announced that it will invest around Rs 29 billion within the two years (2009 and 2010) to increase its overall capacity.

ACC, in which Switzerland-based Holcim possesses 46% equity stake, plans to increase its capacity by a third to 30 million tons by the next fiscal (2010).

Mr. N.S. Sekhsaria, chairman, ACC stated that that there was no slump in the projects accepted, and the company was progressing with its planned growth.