ACC share price today: Cement manufacturer ACC share price was up 0.85 per cent on NSE, trading at Rs 1379 around 13:25 pm on Tuesday. This stock has been seeing a reversal from the lower levels and the movement on the charts showed strength in the stock, technical analyst Nilesh Jain of Anand Rathi Securities said.

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Jain said that the Cement as a sector was a good bet in the long term as infrastructure and real estate sectors good show will reflect in the sector as a whole. Even during the lockdown, cement along with the metal sector performed well.  

The technical analyst further said that ACC Limited stock has a strong support at Rs 1320 from the trading perspective. From the point of view of positional medium term, the support zone is around Rs 1290. 

He said that the near term target price for this stock is at Rs 1420.  

Jain said that there could be a resistance around Rs 1430 and if this level is broken decisively, the stock had the potential to reach levels in the range of Rs 1470-Rs 1500. 

At current price, this stock is trading around its mid-August level (17 Aug). The stock crossed the Rs 1400 mark and traded above this level for almost a week before seeing a correction.   

On March 25, this stock hit Rs 895.15 which was also its 52-week low after attaining highs around Rs 1709 in September 2019. 

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The company recently made changes in its top management. It has appointed Yatin Malhotra as the Chief Financial Officer (CFO) of the Company with effect from 1 September 2020. He took over from Rajani Kesari.