Shares of ACC rise as Nifty gains

Shares of ACC rise as Nifty gains
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Synopsis

On the technical charts, the 200-day moving average of the stock stood at Rs 2322.33.

A broker watches a TV news channel as another monitors share prices at a brokerage firm in MumbaiReuters
On an immediate basis, 15,770/52,500 and 15,850/52,700 levels would be major hurdles.
Shares of . gained 1.21 per cent to Rs 2350.5 in Tuesday's trade as of 10:57AM (IST). It hit a high of Rs 2350.5 and low of Rs 2307.2 during the session.

The stock quoted a 52-week high price of Rs 2784.95 and a low of Rs 1900.5. The return on equity for the stock stood at 13.01 per cent. About 1,154 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 outperformer, up 8.38 per cent in the past one year in comparison with a 3.49 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 January 24, while the 50-DMA was at Rs 2489.91. 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 31-Dec-2022. Mutual funds and foreign institutional investors held 9.38 per cent and 12.11 per cent stake.
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