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Buy ACC, target Rs 1,650: Manas Jaiswal

Buy ACC Ltd. at a price target of Rs 1650.0 and a stoploss at Rs 1575 from entry point.

ETMarkets.com|
Updated: Mar 28, 2019, 09.07 AM IST
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Manas Jaiswal of manasjaiswal.com has a buy call on ACC Ltd. with a target price of Rs 1650. The current market price of ACC Ltd. is Rs 1599.55. Time period given by the analyst is Intra Day when ACC Ltd. price can reach the defined target. Manas Jaiswal recommended to keep stoploss at Rs 1575. ACC Ltd., incorporated in 1936, is a largecap company with a market cap of Rs 30037.51 crore.

ACC Ltd. key Products/Revenue Segments include Cement which contributed Rs 12692.83 Crore to Sales Value (89.38 % of Total Sales), Ready Mix Concrete which contributed Rs 1153.71 Crore to Sales Value (8.12 % of Total Sales), Other Operating Revenue which contributed Rs 324.39 Crore to Sales Value (2.28 % of Total Sales) and Scrap which contributed Rs 29.26 Crore to Sales Value (0.20 % of Total Sales)for the year ending 31-Dec-2017.

For the quarter ended 31-12-2018, the company has reported a Consolidated sales of Rs 3788.62 Crore, up 12.62 % from last quarter Sales of Rs 3363.96 Crore and up 10.87 % from last year same quarter Sales of Rs 3417.14 Crore Company has reported net profit after tax of Rs 729.40 Crore in latest quarter. The company’s top management includes Mr.Arunkumar R Gandhi, Mr.Ashwin Dani, Mr.Christof Hassig, Mr.Farrokh K Kavarana, Mr.Jan Jenisch, Mr.Martin Kriegner, Mr.N S Sekhsaria, Mr.Neeraj Akhoury, Mr.Shailesh Haribhakti, Mr.Sushil Kumar Roongta, Mr.Vijay Kumar Sharma, Ms.Falguni Nayar. Company has Deloitte Haskins & Sells LLP as its auditoRs As on 31-12-2018, the company has a total of 187,787,263 shares outstanding.

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Disclaimer: This recommendation is analyst's own and does not represent those of economictimes.com & ETMarkets.com. Please consult your financial advisor before taking any position in the stock/s mentioned.

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