Action Construction nears record high on promoters' stake buy

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.

Action Construction Equipment has surged 18% to Rs 131, extending its 6% rally of the past two trading sessions, after promoters of the company increased their holdings through open market. The trading at its 52-week high, rallied 87% in the past one month from Rs 70. It quoting close to its record high of Rs 134, touched on January 7, 2008 in intra-day trade.

On Wednesday, November 15, 2017, Vijay Agarwal (60,000) and Sorab Agarwal (26,000) had purchased a combined 86,000 shares of Action Construction Equipment through open market, the company said in a regulatory filing.

Post transaction,