ACC share price in 1992 climbed up in late May and crossed Rs.1,500. This was after the company had acquired a 45% equity stake in Asian Concrete and Cements Pvt Ltd.
ACC shares traded at Rs.1,340-1,360 on NSE and BSE
ACC has made the industry news wire since its inception. While the ACC marquee is the lone d man, the ACC corporate campus is abuzz with activity, with a plethora of meetings, events and activities. In addition to a plethora of meetings, one of which is this article, the ACC has been announcing numerous snazzy awards and accolades. While ACC has a history of excellence, a few tense controversies can mar the good name. One such tiff is a drubbing at the hands of a boffo ACC executive. One has to wonder if the ACC is able to reclaim the trophy for the naysayers. The ACC has also been the subject of a number of scathing criticisms. For the most part, ACC is one of the best companies in the country to deal with.
ACC acquisition of 45% equity stake in Asian Concrete and Cements Pvt Ltd
ACC Limited is a subsidiary of the Adani Group. It is one of the oldest cement firms in India, and the oldest in continuous operation. In 1947, ACC merged four cement firms. It was founded by Sir Nowroji B. Saklatvala, Sir Akbar Hydari, and J.R.D. Tata.
It is India’s largest cement firm with an installed capacity of 15.3 million tonnes. The company has an aggressive expansion plan. It plans to double its capacity at the Wadi, Gulbarga plant, and build a new plant at Madukkarai. It has also launched a new brand called Suraksha, which features durability for the coastal belt. ACC is also planning to expand its presence in the Konkan region.
The company has a strong supply chain and manufacturing infrastructure. It has 80 ready-mix concrete plants and more than 50,000 channel partners. The company also manufactures refractories and heavy machinery. It has a strong commitment to quality. The company is also a leading player in the North Region.
ACC is a coal-blocking company
ACC, one of the biggest cement producers in India, is in the process of developing coal blocks in joint ventures with state governments. The company’s executives say that coal blocks are necessary for cement plants. In addition, the company has started exploring additional coal resources. ACC also owns a wholly owned subsidiary, ACC Mineral Resources Ltd., which aims to secure valuable mineral resources.
ACC has entered into an agreement with Madhya Pradesh State Mining Corporation (MPSMCL) for coal mining and exploration. The company held a 49% stake in four different mines in MPSMC’s state. The company’s subsidiary, AMRL (Semaria) Coal Co Ltd, has a 49% stake in a coal block in Semaria district.
In the last month, MPSMCL was ordered by the Supreme Court to cancel four coal blocks in its state. The four coal blocks are estimated to have reserves of 200 million tonnes. ACC has entered into four joint ventures with MPSMC in 2009, holding a 49% stake in each of these JVs.