Hello Kanika,
516 is a really good score but I doubt that it can get you ACMS. According to last year's cut off and data the first candidate to be admitted in ACMS had an AIQ of 5638 which is equivalent to 578 marks and the last candidate to be admitted had AIQ of 19613 with 519 marks. With this you can easily understand that you are on a borderline an can get admission if the cutoff goes low.
I hope this answer will help.
All the best for your future!!

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