Action Construction Equipment Ltd receives LoI for supply of cranes

In continuation of company's efforts to expand business in the Defence Sector, Action Construction Equipment Limited ('the Company') has developed an indigenous Special Low Silhouette Knuckle Boom Crane for DRDO, Ministry of Defence (MoD).

The Company has received a letter of Intent from Tata Advanced Systems Limited for manufacturing and supply of the said cranes which have been integrated on TATA HMV 8X8 chassis.

The said Knuckle Boom Cranes of the specified capacity are the first of its kind being developed by an Indian company using advanced technology.

Action Construction Equipment Limited qualified by proving the capability of the system through comprehensive testing and these special purpose cranes demonstrate our efforts under the 'Make in India' and 'AatmaNirbhar Bharat' initiatives of our Government.

Shares of Action Construction Equipments Ltd. was last trading in BSE at Rs. 268.95 as compared to the previous close of Rs. 277. The total number of shares traded during the day was 118040 in over 2686 trades.

The stock hit an intraday high of Rs. 279 and intraday low of 267.7. The net turnover during the day was Rs. 32295148.

Source : Equity Bulls

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