ACC’S shares gain on Q2 results; Should you buy, hold or sell the stock-
时间:2024-06-26 16:21:58 阅读(143)
ACC’s stock price surged nearly 2% to Rs 1,936, a day after the Adani Group cement company posted a consolidated net profit of Rs 388 crore for the second quarter of FY24, buoyant on an improved demand for its premium products and operational efficiencies. In comparison, the company had posted a net loss of Rs 87 crore a year ago. The company’s revenue rose 11.2% to Rs 4,435 crore from Rs 3,987 crore in Q2FY23. The cement manufacturer had posted a net profit of Rs 466 crore in the sequential quarter ended June.
The share price of ACC fell 7.18% in the last five days and 7.135% in the last one month, while it gained 7.14% in the last six months, whereas it dropped 18.88% in the last year.
Axis Securities: Buy – Target Price: 2,460“The recent addition of a new greenfield integrated unit in Ametha (MP) in a demand-accretive central region, higher cement demand backed by increased spending on infrastructure development, particularly roads, railways, affordable housing and other schemes, and better synergies with other group companies will drive the company’s growth moving forward. Against this backdrop, we remain constructive on the company prospects from a medium to long-term perspective. The stock is currently trading at 11x and 8x FY24E/FY25E EV/EBITDA and EV/tonne of $100 and $90 which we believe is attractive. We maintain our ‘Buy’ rating on the stock with a Target Price of Rs 2,460/share, implying a robust upside potential of 29% from the CMP.”
(The recommendations in this story are by the respective research analysts and brokerage firms. FinancialExpress.com does not bear any responsibility for their investment advice. Capital markets investments are subject to rules and regulations. Please consult your investment advisor before investing.)
上一篇:Yes Bank stocks may face mass selling as 3-yr RBI-mandated lock-in ends on Monday
下一篇:Zee’s Punit Goenka pays Rs 50 lakh to settle insider trading case
猜你喜欢
- Zomato announces Daily Payouts for small restaurants for better cash flow
- Crude oil holds gains on China rebound, even as US crude stocks rise
- Will Nifty hold 21,500 levels or Hit a new high of 22,000- See GIFT Nifty, FII data, F&O ban, crude, more before market opens
- Commodities witness high volatility on global uncertainties; gold sees impressive gains on safe-haven buying
- Crude set to see price shift despite decline on weak global sentiment
- Crude oil prices up on China economic support pledge, tighter supply
- Zee Entertainment shares fall over 6
- FII, DII data- FPIs sold shares worth Rs 4424cr, DIIs bought shares worth Rs 1769cr on October 4, Wednesday
- Cyclone Biparjoy- High waves hit Mumbai! Gujarat braces itself as sea turns rough – See Pics