ACC shares choppy in trade ahead of June results

NEW DELHI: Shares of cement-maker ACC turned mixed on Monday ahead of the company's June quarter results, due to release later in the day.

The stock was trading 0.21 per cent down at Rs 1,749. It opened at Rs 1,753 and touched an intraday high and low of Rs 1,778.75 and Rs 1,744.05 on BSE. It eventually ended the day 0.08 per cent down at Rs 1,751.25.

It had scaled to its fresh 52-week high of Rs 1,778.75 in early trade on Monday and had touched its 52-week low of Rs 1,257 on November 22, 2016.

The company is expected to report 15 per cent increase YoY in consolidated net sales led by both higher NSR and higher sales offtake. ACC’s EBITDA is likely to increase 15-18 per cent YoY.

Broker firm Centrum has give ACC 'Hold' rating with a Target price of Rs 1,520.

For the quarter ended March 31, 2017, the company reported total revenue at Rs 3,631.05 crore and net profit stood at Rs 211.50 crore.