Motilal Oswal has advised investors to buy shares of ACC Ltd., with a target price of Rs 3300. Currently, the market price of ACC Ltd. stands at Rs 2707.4.
ACC Ltd., established in 1936, operates as a large-cap company within the cement sector, with a market capitalization of Rs 50,678.15 crore.
Financial Performance
For the quarter ended March 31, 2024, ACC Ltd. reported a consolidated total income of Rs 5528.45 crore. This marks a 10.56% increase from the previous quarter and a 12.59% increase from the same quarter last year. The company achieved a net profit after tax of Rs 944.14 crore in the latest quarter.
Ownership Structure
As of March 31, 2024, promoters hold a 56.69% stake in ACC Ltd., while FIIs own 6.17% and DIIs hold 24.55%.
Motilal Oswal’s recommendation reflects confidence in ACC Ltd.’s robust financial performance and growth prospects within the cement industry.
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