| Hot Pursuit | Friday, July 27, 2012 09:22 Hrs IST |
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ACC builds on strong Q2 earnings ACC rose 2.7% to Rs 1,295 at 9:21 IST on BSE after consolidated profit after tax jumped 26.33% to Rs 414.52 crore on 15% growth in turnover to Rs 2918.98 crore in Q2 June 2012 over Q2 June 2011.
The company announced the results after market hours on Thursday, 26 July 2012. Meanwhile, the BSE Sensex was up 268.84 points or 1.62% to 16,908.66. On BSE, 6,890 shares were traded in the counter as against average daily volume of 55,030 shares in the past one quarter. The stock hit a high of Rs 1,298.95 and a low of Rs 1,285.20 so far during the day. The large-cap stock had outperformed the market over the past one month till 26 July 2012, rising 3.32% compared with the Sensex's 1.58% fall. The scrip had also outperformed the market in past one quarter, gaining 3.72% as against Sensex's 2.87% fall. ACC said there was a steep escalation in major input costs, including slag, fly ash, gypsum and power in Q2 June 2012. Further, the sharp hike in railway freight rates with effect from 6 March 2012 substantially impacted both inward and outward costs, ACC said. The cement market has been growing steadily and barring seasonal fluctuations the demand for cement is expected to maintain the steady pace of growth in the near term, ACC said with regard to future business outlook. ACC's board of directors at a meeting held on Thursday, 26 July 2012, declared interim dividend of Rs 11 per share for the year ending 31 December 2012. ACC is India's leading cement manufacturer with a countrywide network of factories and marketing offices.
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