ACC can test Rs 1080: Sanjay Vaid

ACC can test Rs 1080, says Sanjay Vaid, SBI Cap.

Vaid told CNBC-TV18, "ACC has been doing very well especially on the accumulation side and lot of buying is happening in the stock. The company has seen decent traction in volume growth especially since February 2011, post the implementation of this 3 million tonne Chandrapur unit. Since the company has PAN India presence, they are I think to some extent hedged against the regional imbalances."

He further added, "It is trading at a replacement cost of almost USD 120 per tonne, which is fairly valued. We are seeing huge amount of built up also in the F&O segment as well as in the delivery volumes in the stock. What we can feel is that stock can easily head towards Rs 1080 levels in a shorter term. If you are looking at a slightly medium term kind of view then Rs 1135-1150 can be easily reached in another two months."