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Action Construction Equipment
ACE is seen testing its 200-DMA after 2 years, while TMB after 5 months; rest of the smallcap stocks were consolidating around the 200-DMA for more than a month now; check bullish, bearish stocks here
Action Construction Equipment share price gained up to 3.44 per cent at Rs 1278.15 per share on the BSE in Tuesday's intraday deals
The surge in ACE stock price came after the company announced that it has bagged an order from the Ministry of Defence (MoD).
Action Construction Equipment Ltd on Wednesday reported a 24 per cent rise in consolidated profit after tax (PAT) at Rs 84.57 crore in the April-June quarter of this financial year, mainly on account of higher income. It had reported a PAT of Rs 67.57 crore during the April-June period of the preceding 2023-24 fiscal, the construction equipment maker said in an exchange filing. The total income also increased to Rs 761.81 crore, up 14 per cent from Rs 667.85 crore a year ago. "The company has maintained its growth momentum in the first quarter of the current fiscal year. The company has been able to deliver its best ever quarterly performance in Q1 FY25," Action Construction Equipment Executive Director Sorab Agarwal said. The company garnered a revenue of Rs 690.67 crore from the cranes, construction equipment and material handling segment, while its agri-equipment division earned a revenue of Rs 42.96 crore. Action Construction Equipment Ltd is among India's leading material ...
Increasing public & private infrastructure, FDI reforms for the construction sector, highway projects and a growing economy has led to the global surge in the construction equipment market in India.
The technical analyst from HDFC Securities recommends buying Action Construction Equipment and Bandhan Bank.
The stock hit a new high of Rs 156, up 10% on the BSE, extending its 60% surge in past two weeks.
The stock surged 18% to Rs 131, extending 6% gain in past two trading sessions, after promoters of the company increased their holdings through open market.