ACC surges on Credit Suisse upgrade

ACC, the biggest cement maker in India and a unit of Holcim,rallied on Wednesdayas the global firm Credit Suisse upgraded the stock to "Neutral" from "Underperform".

It also raised the target price on the stock to Rs 1,462 from Rs 1,022.

Shares ofthe companyare trading at Rs 1,424, up Rs 48.7, or 3.54% at the Bombay Stock Exchange (BSE) on Wednesday at 12:11 p.m. The scrip has touched an intra-day high of Rs 1,429.30 and low of Rs 1,375.90. The total volume of shares traded at the BSE is 42,313.In the earlier session, the shares climbed 0.52%, or Rs 7.14, at Rs 1,375.30. Currently, the stock is trading all time 52-week high, which is above 34.24% over the 52-week low of Rs 1,060.80.

Share Price Movement Period Pricein Rs Gain/(Loss) in Rs in % 1 Week 1,368.40 6.90 0.50 1 Month 1,346.50 28.80 2.14 3 Months 1,221.90 153.40 12.55 6 Months 1,356.35 18.95 1.40 1 Year 1,087.80 287.50 26.43 Note: Based on previous day closing price.