Buy ACC, target price Rs 2750: Axis Securities

Axis Securities has buy call on ACC with a target price of Rs 2750. The current market price of ACC Ltd. is Rs 2522.95.
ACC Ltd., incorporated in the year 1936, is a Large Cap company (having a market cap of Rs 46813.49 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 31-12-2023, the company reported a Consolidated Total Income of Rs 5000.51 Crore, up 7.66 % from last quarter Total Income of Rs 4644.78 Crore and up 9.24 % from last year same quarter Total Income of Rs 4577.64 Crore. Company reported net profit after tax of Rs 530.09 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.