Shares of ACC rise as Nifty drops

Shares of ACC rise as Nifty drops
ETMarkets.com
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Synopsis

On the technical charts, the 200-day moving average of the stock stood at Rs 2214.12.

Agencies
Mazhar Mohammad of Chartviewindia.in said technical indicators are turning mixed as the weekly MACD chart has generated a 'buy' signal, giving an edge to the bulls.
Shares of . gained 0.31 per cent to Rs 2332.75 in Friday's trade as of 11:42AM (IST). It hit a high of Rs 2360.95 and low of Rs 2302.35 during the session.

The stock quoted a 52-week high price of Rs 2587.95 and a low of Rs 1900.5. The return on equity for the stock stood at 13.01 per cent. About 14,396 shares have changed hands on the counter so far.

The stock's beta value, which measures its volatility in relation to the broader market, stood at 1.31.

The scrip has been an underperformer, down 0.96 per cent in the past one year in comparison with a 9.95 per cent gain in Sensex.

Technicals
On the technical charts, the 200-day moving average (DMA) of the stock stood at Rs 1900.5 on August 19, while the 50-DMA was at Rs 2172.22. If a stock trades well above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades well below 50-DMA and 200-DMA both, it is considered a bearish trend and if trades between these averages, then it suggests the stock can go either way.

Promoter/FII Holding
Promoters held 50.05 per cent stake in ACC Ltd. as of 30-Jun-2022. Mutual funds and foreign institutional investors held 9.38 per cent and 12.11 per cent stake.
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