India's Action Construction hits record high on Q2 profit jump

Action Construction Equipment

10/11/2023 04:22

** Shares of Action Construction Equipment  ACEL.NS  jump as
much as 10.8% to a record high of 894.7 rupees 
    ** Stock posts biggest intraday pct gain since July 24 
    ** Crane manufacturer on Thursday reported a more than
two-fold Y/Y jump in net profit to 739.2 mln rupees ($8.88 mln)
for the Sept-qtr
    ** Rev from ops rose nearly 37% to 6.73 bln rupees
    ** More than 462,000 shares change hands by 09:50 a.m. IST,
1.5x the 30-day avg 
    ** Stock currently up 7.2%, boosting YTD gains to 184.7% 





($1 = 83.2760 Indian rupees)

 (Reporting by Navamya Ganesh Acharya in Bengaluru)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))