Profitmart Securities has given Buy recommendation for Action Construction Equioment with a target price of Rs. 240 in its research report issued on Apr 13, 2021
Profitmart Securities research report on Action Construction Equioment
Action Construction Equioment Ltd (ACCE) incorporated in 1995, manufactures material‐handling and construction equipment. It has four segments: Cranes (65% of sales), material handling equipment (7%), construction equipment (7%), and agriculture equipment (21%). ACCE is a leading manufacturer of mobile cranes (63% market share) and tower cranes (60%) in India. ACCE also caters to a large clientele base, (with over 15000 customers) which includes major Indian as well as international players such as Reliance, L&T, BSES, BHEL, Gammon, NCC, Gujarat Ambuja, IISCO, Simplex, Coal India, etc & its products are used in sectors like infrastructure, construction, roads, engineering, coal mines, chemical and fertilizer plants, power stations, ports, heavy project engineering, railways, cement, oil, defense etc.
Hence we believe that the ACE stock should be purchased at the current price for a price target of around Rs 240 over the next 12 to 18 months.