Expert recommends BUY on ACC share with price target of Rs 2100
Sumeet Bagadia, Executive Director of Choice Broking says that on a weekly chart, ACC is going through a bullish trend over the last couple of weeks and the stock even saw a breakout from the Trendline and sustained above it. The Volume activities have risen in the last couple of weeks, which indicates buying interest among the traders
![Expert recommends BUY on ACC share with price target of Rs 2100 Expert recommends BUY on ACC share with price target of Rs 2100](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_850x478/public/2021/04/13/147546-cement.jpg?itok=EZ9MyWbz&c=c607f27c77a825a86e97c99b7fad9102)
ACC Share price today is Rs 1878, down Rs 8 or 0.4%. Sumeet Bagadia, Executive Director of Choice Broking says that on a weekly chart, ACC is going through a bullish trend over the last couple of weeks and the stock even saw a breakout from the Trendline and sustained above it. The Volume activities have risen in the last couple of weeks, which indicates buying interest among the traders. Sumeet said that ACC should be bought in Cash around Rs 1750 – Rs 1800 with stop-loss of Rs 1650 and target of Rs 2100.
ACC’s Management commentary:
Jefferies says that ACC Management’s Outlook is fairly positive as economic recovery is underway led by government focus on infra, particularly roads, railways, affordable housing etc. as announced in the union budget.
See Zee Business Live TV Streaming Below:
KEY Highlights from ACC Investor Presentation:
1) Affordable Housing Segment to be a Key Driver for the Cement Sector:
ACC at its recent Investors Presentation highlighted that the government’s vision of “Housing for all by 2022” is expected to create lucrative opportunities for ACC. In 2020, around 586.05 lakh tonnes of cement were used at the start of construction work. Demand for affordable homes is set to stay healthy, supported by a growing population, young demographic profile, shift towards nuclear families and rapid urbanization.
2) ACC is Expanding Capacities to Capitalise on Opportunities:
With projected increase in cement demand, expansion has been kick-started to increase clinker and cement capacities in the attractive markets of East and Central region.
KRChoksey says that with expected capacity addition and steady capacity utilization giving good revenue visibility, they are positive on ACC’s future growth potential. Management is focused on improving ACC’s margin profile by increasing the share of premium products in revenue mix augur well for the company. KRChokey maintains Buy rating ACC with target price of Rs 2185.
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