Action Construction extends rally; up 39% in 1 month on healthy biz outlook

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.

Shares of Action Construction Equipment (ACE) hit new high at Rs 306.95, surging nearly 7 per cent on the BSE in Monday’s intra-day trade, thus extending its rally on healthy business outlook. In the past one month, the stock of construction equipment and material handling company has soared 39 per cent, as compared to 1.7 per cent rise in the S&P BSE Sensex.

ACE has eight manufacturing and one R&D site in Faridabad, Haryana. The company commands strong market share in excess of 60 per cent in the crane market and drives 70 per cent of the business. The