Volume growth to remain subdued amid capacity bottlenecks ACC ended CY19 with marginal volume growth of 2% YoY on the back of weak industry growth since Q2CY19. Industry growth is expected to revive from 2020, subject to effective implementation of the project pipeline laid down in the NIP, which was recently announced by the government. While ACC should benefit from the same on the back of the company's diverse presence, its growth would remain limited owing to capacity constraints. While the company has undertaken capacity expansion plans, the new...