Hold ACC With Stop Loss Of Rs 950
Technical analyst Rahul Mohinder has maintained 'hold' rating on ACC Limited with a trailing stop loss of Rs 950.
Mr. Mohinder said that the stock will show good upmove on crossing its resistance of Rs 1030.
Today, the stock of the company opened at Rs 1354on the Bombay Stock Exchange (BSE).
The share price has seen a 52-week high of Rs 1381.40 and a low of Rs 668.70 on BSE.
Current EPS & P/E ratio stood at 44.89 and 29.55 respectively.
During the last month, ACC registered an increase of 4.76% in its production of cement , which stood at 1.76 million tons as against 1.68 million tons in 2009.
ACC said that dispatches during the month jumped 4.82% to 1.74 million tons as against 1.66 million tons in November 2009.
During the eleven months of 2010, the cement production stood at 19.31 million tons, slipped 1.03% as against 19.51 million tons in November last year, whereas dispatches reported 19.24 million tons, down 1.18% as against 19.47 million tons during November last year.
ACC's consolidated net profit for the three month period ended Sep 2010 remained at of 863.09 million as against Rs 4,155.1 million for the same period of 2009.
Consolidated net sales of the company stood at Rs 17,591.7 million for the quarter ended September 30, 2010.