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Check out latest news on Acc and with the help of it predict Acc share price target.
|Acc Ltd share price target around 1510 if breaks and holds above 1490 – updated for 12th November 2018|
ACC technical chart indicted that stock moving in a range bound pattern in daily charts and can see intraday buying once it breaks and holds above 1490 during trading hours. If moves up then ACC share price target around 1510.
As per latest news ACC has adopted the use of solar power in its cement manufacturing process. ACC has signed a 10 year solar power purchase agreement for 20MW from Amplus solar and 10MW from CleanMax solar. The company believe that this will make ACC one of the largest users of solar power in the Indian cement industry
Intraday ACC share price target around 1525, if holds above 1510 – Updated for 15th October 2018
Acc technical chart indicates that stock holding above its 100 days moving average, as long as ACC holds above 1510 in today’s trading bulls will be favored and price rise expecting. If moves up then ACC share price target around 1525 (intraday). Stock currently 02:09 pm, trading around 1509 up by 0.35% at NSE.
As per report published in Money Control website, India`s broking house ICICI DIrect said that they expect ACC to report net profit at Rs. 262.8 crore down 18.3% year-on-year (down 1.3% quarter-on-quarter).
Net Sales are expected to increase by 7.4 percent Y-o-Y (down 4.7 percent Q-o-Q) to Rs. 3,559.1 crore and Earnings before interest, tax, depreciation and amortisation (EBITDA) are likely to fall by 14.6 percent Y-o-Y (down 10.6 percent Q-o-Q) to Rs. 423 crore. Published on 15th October 2018.
Also in another report published on 11th October 2018, Moneycontol analyst Kunal Bothra recommend sell in ACC with a target around Rs 1410.
Other analyst Manas Jaiswal also recommend sell in ACC with a target around Rs. 1420. Acc is a larcap company and established in 1936, its current market cap is Rs. 27525.86 cr.
Share price of ACC falls after Supreme Court stays CCI penalty
Share price of cements stocks falls on Friday 05-10-2018 after the supreme court stayed the Rs 6,300 crore penalty imposed by the fair trade regulator CCI for alleged cartelisation.
As per PTI, in August 2016, CCI had slapped approximately Rs 6,700 crore penalty on 11 cement firms including Ultratech, ACC, Ambuja, Ramco and JK Cement as well as the industry body Cement Manufacturers Association (CMA) for indulging in cartelisation.
Our trend signals indicator indicates weakness as per technical chart on 05th October 2018 and indicating Acc share price target around 1433 as per daily chart.