ACC shares gain 1.55% as Sensex rises

Shares of ACC Ltd. traded 1.55 per cent higher in Wednesday's session at 10:51AM (IST). The stock opened at Rs 1743.95 and has touched an intraday high and low of Rs 1771.45 and Rs 1738.0, respectively, during the session so far.

The stock quoted a 52-week high of Rs 2784.95 and a 52-week low of 1659.25. About 18,862 shares changed hands on the counter so far.

Benchmark Nifty50 was up 105.8 points at 17409.75, while the BSE Sensex traded 337.58 points higher at 59299.7 at the time of writing of this report.

In the Nifty pack, 42 stocks traded the day in the green, while 8 were in the red.


Key Financials
For the quarter ended 31-Dec-2022, the company reported consolidated sales of Rs 4577.64 crore, up 12.83 per cent from the previous quarter's Rs 4057.08 crore and up 6.96 per cent from the year-ago quarter. The company reported net profit of Rs 113.16 crore for the latest quarter.

Promoter Holdings
Promoters held 56.69 per cent stake in the company as of 31-Dec-2022, while FIIs held 11.95 per cent and MFs 8.22 per cent.

Technicals
On the technical charts, the 200-Day Moving Average (DMA) of the stock stood at Rs 2276.99 on March 01, while the 50-DMA was at Rs 2136.74. If a stock trades 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 as bearish trend and if trades between these averages, then it suggests the stock can go either way.