ACC share price in 1992 has shown a rise of over 5% in a year, mainly on account of the strategic placement made by the company to meet the demand for raw materials. The company also made acquisitions of a 45% stake in Asian Concrete and Cements Pvt Ltd.
ACC’s acquisition of 45% stake in Asian Concrete and Cements Pvt Ltd
Associated Cement Companies Ltd (ACC) is India’s oldest cement company in continuous operation. It is a part of Adani Group. Since its establishment in 1936, ACC has made a mark in the infrastructure sector and shaped some of India’s iconic projects. Its products include cement, refractories and heavy machinery. The company has a production capacity of 2.70 lac tonnes per annum.
It was one of the first cement companies in India to get ISO 14000 certification for its Gagal cement unit. The unit uses bag filters for cement grinding. Its Waste Heat Recovery System (WHRS) converts waste heat from exhaust gases into useful electrical energy. It also launched a ‘Suraksha’ brand cement with features that make it durable for the coastal belt. The company has received CII-ITC Sustainability Prize for its contribution to sustainable development.
ACC’s capital expenditure programme includes expansion of existing plants. It plans to double its capacity at its plant at Wadi, Gulbarga in Karnataka. It has also decided to consolidate its 13 RMC units. It also plans to launch ready-to-use value-added products in a year. It has also launched a cement blending unit in Padubidri village, Udupi district in Karnataka.
ACC has also signed an MoU with Ebara Corporation of Japan for joint environmental-related projects in India. The company is also planning to install a waste heat recovery system at its Gagal cement unit. It will also install a similar plant at its Madukkarai plant.
ACC shares traded at Rs.1,340-1,360 on NSE and BSE
ACC shares were on the upswing in a big way, and the fact that a single digit percentage of the stock was traded in was a big deal in and of itself. Despite a challenging trading environment, ACC managed to deliver on its promises. The best part is that we were able to enjoy a quality and hassle free trading experience. ACC shares were trading at a reasonable price. ACC also managed to deliver an impressive trading volume of over 3000 shares. In fact, ACC was one of the best performers in the sector during the recent BSE churn. As a result, ACC managed to impress a few unsuspecting investors. For a start, the management stepped up to the plate. ACC exemplified its commitment to delivering on its promises and re-engaged with ACC employees to ensure that its employees are engaged in the best possible manners.