Action Construction Equipment (ACE) is witnessing an upward trend, with its stock trading at Rs. 1251.80, marking a gain of 16.20 points or 1.31% from its previous close of Rs. 1235.60 on the BSE.

The stock opened at Rs. 1258.65, reaching an intraday high of Rs. 1278.15 and a low of Rs. 1250.00, with 5,234 shares changing hands so far.

This 'A' category stock with a face value of Rs. 2 had earlier touched a 52-week high of Rs. 1693.05 on April 2, 2024, and a 52-week low of Rs. 643.50 on September 12, 2023. The stock's weekly high and low stood at Rs. 1304.20 and Rs. 1225.00, respectively, while the company's market capitalization is currently Rs. 14,924.10 crore.

Promoter holdings account for 65.41% of the company, with institutional investors and non-institutional investors holding 11.92% and 22.66%, respectively.

The surge in stock price follows ACE's announcement of receiving an order from the Ministry of Defence (MoD) to supply 99 forklifts, reinforcing its role in the ‘Make in India’ and ‘AatmaNirbhar Bharat’ initiatives. Previously, the company also secured an order for 285 Special Forklifts and 6 Rough Terrain Cranes with a 30-tonne lifting capacity.

Action Construction Equipment remains India's top manufacturer in the material handling and construction equipment sector, leading the market in mobile and tower cranes.