ACC on acquisition plans

ACC gained 2.39% to Rs 641.05 at 12:14 IST on BSE on reports the company has short-listed some companies for acquisition.

The stock hit a high of Rs 646.20 and a low of Rs 615.55 so far during the day. The stock had a 52-week high of Rs 1314.85 on 16 October 2007 and the stock hit a 52-week low of Rs 615 on 22 January 2008.

The company’s current equity is Rs 187.64 crore. Face value per share is Rs 10.

The current price of Rs 641.05 discounts its Q1 March 2008 annualised EPS of Rs 76.14, by a

PE multiple of 8.42.

As per recent reports, ACC has cash reserves of Rs 1000 crore which it would use for expansion and acquisition.

ACC’s net profit rose 0.5% to Rs 357.54 crore on 8% increase in net sales to Rs 1766.34 crore in Q1 March 2008 over Q1 March 2007.

ACC manufactures ordinary portland cement, fly ash and slag-based cement.