Buy ACC, target price Rs 2710: ICICI Securities

ICICI Securities has buy call on ACC with a target price of Rs 2710. The current market price of ACC Ltd. is Rs 2258.9.
Time period given by analyst is one year when ACC Ltd. price can reach defined target.

ACC Ltd., incorporated in the year 1936, is a Large Cap company (having a market cap of Rs 42447.43 Crore) operating in Cement sector.


ACC Ltd. key Products/Revenue Segments include Cement, Other Operating Revenue, Scrap, Other Services for the year ending 31-Dec-2020.


Financials
For the quarter ended 30-09-2021, the company reported a Consolidated Total Income of Rs 3812.31 Crore, down -3.01 % from last quarter Total Income of Rs 3930.49 Crore and up 6.41 % from last year same quarter Total Income of Rs 3582.82 Crore. Company reported net profit after tax of Rs 448.17 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 54.53 per cent stake in the company as of 30-Sep-2021, while FIIs owned 23.69 per cent, DIIs 9.29 per cent.