"ACC Ltd's EBITDA/tonne at Rs557 still appears poor compared to other pan-India cement players, which may not warrant the stock to re-rate further. However, its likely merger with Ambuja Cements may help the stock to witness further upmove," Binod Kumar Modi, an analyst at Reliance Securities Ltd, said in a note. Ebitda is short for earnings before interest, tax, depreciation and amortization, an indicator of operating profitability.