
Shares of Adani Group-owned cement maker ACC slipped over 2% today despite the firm reporting a 216.41 per cent rise in its Q4 FY24 standalone profit. Net profit rose to Rs 748.54 crore in the March 2024 quarter against Rs 236.57 crore in the year-ago period. Revenue from operations climbed 12.67 per cent to Rs 5,398 crore in the March 2024 quarter from Rs 4,791 crore in the corresponding period last year. ACC also announced a dividend of Rs 7.5 per share for the financial year 2023-24 (FY24).
ACC stock slipped 2.53% to Rs 2514 against the previous close of Rs 2579.70 on BSE. Market cap of the firm fell to Rs 47,604 crore.
Total 1.80 lakh shares of the firm changed hands amounting to a turnover of Rs 46.31 crore on BSE. Shares of ACC are trading higher than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages.
ACC stock has risen 46% in a year and gained 13% in 2024.
ACC is a subsidiary of Ambuja Cements and a part of the Adani Group.