Action Construction Equipment gains on bagging contract worth $24.98 million
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Action Construction Equipment is currently trading at Rs. 205.15, up by 4.35 points or 2.17% from its previous closing of Rs. 200.80 on the BSE.
The scrip opened at Rs. 201.00 and has touched a high and low of Rs. 206.25 and Rs. 201.00 respectively. So far 5794 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 291.55 on 14-Sep-2021 and a 52 week low of Rs. 175.00 on 12-May-2022.
Last one week high and low of the scrip stood at Rs. 213.95 and Rs. 198.95 respectively. The current market cap of the company is Rs. 2440.01 crore.
The promoters holding in the company stood at 66.76%, while Institutions and Non-Institutions held 8.33% and 24.92% respectively.
Action Construction Equipment (ACE) has been awarded with a contract to set up a state-of-the-art assembly plant for manufacturing of Tractors, Backhoe Loaders and Fabrication of Agricultural implements for the Government of The Republic of Ghana against a consideration of $24.98 Million. The said contract is secured through a credit agreement between the Government of The Republic of Ghana and Export- Import Bank of India. The project will be owned and operated by the Government of The Republic of Ghana.
The project involves Designing, Engineering, Commissioning of assembly lines and Supply of plant and machinery for the manufacturing plant in addition to transferring the technical know-how, establishing best-in-class manufacturing processes and quality control systems along with the training of engineers and technicians from The Republic of Ghana for future operations.
The manufacturing unit will be designed for an installed capacity of 4,500 Tractors, 600 Backhoe Loaders, 6,000 Agricultural implements and 3,000 Tipping trailers annually. The contract also includes the supply of an initial pilot lot of Tractors, Backhoe loaders and agricultural implements in CKD form for the assembly lines for manufacturing. Subsequently, after the commissioning of the plant, the prices for the CKD kits shall be applicable as per the prevailing market rates at the time of the supply.
Action Construction Equipment is the leading mobile crane manufacturing company in India, which has progressed all along to become a professionally managed ISO 9OOI Certified company.
