Buy ACC, target price Rs 2180: Yes Securities

Yes Securities has buy call on ACC with a target price of Rs 2180. The current market price of ACC is Rs 2003.5. Yes Securities recommended to keep stop loss at Rs 1945.

ACC, incorporated in the year 1936, is a Large Cap company (having a market cap of Rs 37781.86 Crore) operating in Cement sector.

ACC 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 30-06-2023, the company has reported a Consolidated Total Income of Rs 5278.02 Crore, up 7.49 % from last quarter Total Income of Rs 4910.06 Crore and up 16.71 % from last year same quarter Total Income of Rs 4522.28 Crore. Company has reported net profit after tax of Rs 463.22 Crore in latest quarter.

Investment Rationale
Post few days of consolidation, stock has resumed its uptrend, signaling range breakout.

Promoter/FII Holdings
Promoters held 56.69 per cent stake in the company as of 30-Jun-2023, while FIIs owned 9.98 per cent, DIIs 19.25 per cent.