Refractory Materials Expansion buzz strengthens ACC

Apr. 7, 2010 - ACC gained 1.72% to Rs 967.55 at 10:35 IST on BSE, on reports the company is planning to ramp up its annual production capacity to 30 million tonnes by the end of this financial year through brownfield projects.
Meanwhile, the BSE Sensex was up 42.66 points, or 0.24% to 17,984.03.
On BSE, 29,071 shares were traded in the counter as against an average daily volume of 96,450 shares in the past one quarter.
The stock hit a high of Rs 969.30 and a low of Rs 952.15 so far during the day. The stock had hit a 52-week of Rs 1017 on 10 March 2010 and a 52-week low of Rs 561 on 8 April 2009.
The large-cap stock had underperformed the market over the past one month till 6 April 2010, declining 1.88% as compared to the Sensex's 5.57% rise. It had outperformed the market in the past one quarter, rising 5.10% as compared to the Sensex's return of 1.36%.
The company's equity capital is Rs 187.74 crore. Face value per share is Rs 10.
The current price of Rs 967.55 discounts the company's Q4 December 2009 annualized EPS of Rs 59.74, by a PE multiple of 16.20.
ACC's shipments fell 3.48% to 19.40 lakh tonnes in March 2010 over March 2009. The company's production declined 2.51% to 19.40 lakh tonnes in March 2010 over March 2009.
ACC's net profit fell 6.5% to Rs 280.71 crore on 1.9% rise in net sales to Rs 1921.46 crore in Q4 December 2009 over Q4 December 2008. The company will declare its Q1 March 2010 results on 22 April 2010.
ACC manufactures a range of cements and blended cements. The company also manufactures gypsum and refractory products such as Brown Tabular Alumina. The company provides turnkey and application consulting services for setting up and operating cement plants and refractories. The company owns cement plants throughout India.