Sell ACC, target price Rs 1700: Motilal Oswal

Motilal Oswal has sell call on ACC with a target price of Rs 1700. The current market price of ACC Ltd. is Rs 1758.05.
ACC Ltd., incorporated in the year 1936, is a Large Cap company (having a market cap of Rs 33268.39 Crore) operating in Cement sector.

Financials
For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 4208.75 Crore, up 17.47 % from last quarter Total Income of Rs 3582.82 Crore and up 2.21 % from last year same quarter Total Income of Rs 4117.85 Crore. Company reported net profit after tax of Rs 468.55 Crore in latest quarter.


Investment Rationale
Breakdown on daily frame and finding supply near to multiple barrier of 1850 zones

Promoter/FII Holdings
Promoters held 54.5 per cent stake in the company as of Dec 30, 2020, while FIIs held 11.7 per cent, DIIs 20.7 per cent and public and others 13.1 per cent.