India's Action Construction Equipment rises on JV talks with Kato Works

Action Construction Equipment

20/06/2024 05:35

** Shares of Indian Crane manufacturer Action Construction
Equipment  ACEL.NS  rise as much as 2.9% to 1,560.22 rupees
    ** Co says it is currently in discussions with KATO WORKS CO
 6390.T , a Japanese construction equipment manufacturer to
establish a joint venture in India
    ** JV intends to produce medium and large sized cranes   
    ** Stock eyes a third straight week of gains, if trend holds
    ** Stock has risen 87% YTD, following the biggest yearly
rise of ~173% in 2023
    

 (Reporting by Yagnoseni Das in Bengaluru)
 ((Yagnoseni.das@thomsonreuters.com))