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Buy ACC, target price Rs 2770: HDFC Securities

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January 16, 2024
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Buy ACC, target price Rs 2770:  HDFC Securities
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HDFC Securities has buy call on ACC with a target price of Rs 2770. The current market price of ACC Ltd. is Rs 2326.
ACC Ltd., incorporated in the year 1936, is a Large Cap company (having a market cap of Rs 43322.52 Crore) operating in Cement sector. ACC Ltd. key Products/Revenue Segments include Cement, Ready Mix Concrete, Other Operating Revenue, Scrap for the year ending 31-Dec-2021.

Financials
For the quarter ended 30-09-2023, the company reported a Consolidated Total Income of Rs 4644.78 Crore, down -12.00 % from last quarter Total Income of Rs 5278.02 Crore and up 14.49 % from last year same quarter Total Income of Rs 4057.08 Crore. Company reported net profit after tax of Rs 386.15 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 56.69 per cent stake in the company as of 31-Dec-2023, while FIIs owned 6.24 per cent, DIIs 24.05 per cent.

(Disclaimer: Recommendations given in this section or any reports attached herein are authored by an external party. Views expressed are that of the respective authors/entities. These do not represent the views of Economic Times (ET). ET does not guarantee, vouch for, endorse any of its contents and hereby disclaims all warranties, express or implied, relating to the same. Please consult your financial adviser and seek independent advice.

Tags: accacc ltdACC stocksBuyhdfcmarket newsMarketsNiftypriceSecuritiessensextargetएसीसी लिमिटेड
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