The Ministry of Defence (MoD), DRDO placed an order with Action Construction Equipments Ltd (ACE Ltd) for the supply of cranes, the company reported to the exchange. The purchase includes a test order for ACE to produce and provide cranes that are already built into HMV 8X8 chassis. The cranes have telescoping boom sections, hydraulic power, and cutting-edge safety equipment.
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Shares of ACE Ltd. rose 3.19 percent today from their previous closing of Rs. 315.80 to Rs. 325.85 a share. The stock’s 52-week high is 354.35 rupees, and its 52-week low is 175 rupees.
Small-Worth firm Action Construction Equipment Ltd has a market cap of Rs. 3483.18 crore. The company is in the business of producing and selling hydraulic mobile cranes, mobile tower cranes, forklifts for material handling, and equipment for building roads.
When the company’s financial performance is taken into account on a quarterly basis, the net profit increased by 47.8% to Rs 33.86 crore from Rs 22.91 crore in Q2FY21. Net profit increased by 31.59% on an annual basis from Rs 79.79 crore in FY21 to Rs 105 crore in FY22.
The company’s stock gained 49.23% during the previous six months and 41.28% over a full year. Traders ought to monitor this small-cap stock.