Share price of ACC falls as Nifty weakens

Shares of . slipped 2.55 per cent to Rs 2257.25 in Thursday's trade as of 02:05PM (IST). The stock hit a high price of Rs 2317.35 and low of Rs 2244.1 during the session.

The return on equity (ROE) for the stock stood at 13.01 per cent. Traded volume on the counter stood at 02:05PM shares and turnover at Rs 3.51 crore around that time. The stock of ACC Ltd. quoted a 52-week high price of Rs 2784.95 and 52-week low prices of Rs 1900.5, respectively.

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

Promotor/FII Holding
Promoters held 50.05 per cent stake in the company as of 30-Jun-2022, while overseas investors held 12.11 per cent and domestic institutional investors had 9.38 per cent.

Key Financials
The company reported consolidated sales of Rs 4522.28 crore for the quarter ended 30-Jun-2022, up 0.83 per cent from previous quarter's Rs 4485.01 crore and up 15.06 per cent from the year-ago quarter's Rs 3930.49 crore. Net profit after tax for the latest quarter stood at Rs 227.32 crore, down 60.08 per cent from the same quarter a year ago.

Technicals
The MACD signalled a bearish bias on the counter. The MACD is known for signalling trend reversals in traded securities or indices.
It is the difference between the 26-day and 12-day exponential moving averages. A nine-day exponential moving average, called the signal line, is plotted on topof the MACD to reflect "buy" or "sell" opportunities. When the MACD crosses below the signal line, it gives a bearish signal, indicating that the price of the security may see a downward movement and vice versa.