India's Action Construction Equipment at 6-week high; brokerage sees growth prospects

Action Construction Equipment

09/09/2025 07:37

** Action Construction Equipment ACEL.NS rises 5.5% to 1,119.6 rupees, highest since July 24

** ICICI Securities says co likely to be primary beneficiary of government plans to support local manufacturing, construction equipment firms

** Local media reports say government proposed 130 billion-rupee ($1.5 billion) incentive scheme for domestic firms to boost manufacturing activity; Reuters could not immediately verify report

** Brokerage says rating agencies estimate move can boost construction equipment firms' share in the industry to 70%-80% from 50% currently

** About 2.8 million shares traded, 4x the 30-day avg

** Year-to-date, ACEL falls ~27%

($1 = 88.1440 Indian rupees)

 (Reporting by Manvi Pant in Bengaluru)

 ((Manvi.Pant@thomsonreuters.com; +918447554364;))