Action Construction zooms over 100% in one month; stock hits new high

The stock hit a new high of Rs 156, up 10% on the BSE, extending its 60% surge in past two weeks.

Action Construction Equipment hit a new high of Rs 156, up 10% on the BSE, extending its 60% surge of the past two weeks after the company reported nearly three-fold jump in its net profit at Rs 11 crore in September 2017 quarter (Q2FY18). The company engaged in transport related services business had posted profit of Rs 4 crore in the same quarter of the last fiscal year.

Revenue from operations during the quarter under review increased by 31% at Rs 251 crore against Rs 190 crore in the corresponding quarter of previous fiscal.

On Wednesday, November 15,