ACE gains on getting nod to amalgamate ACE Steel Fab with itself

Action Construction Equipment Ltd. | Construction Vehicles | Capital Goods & Industrial Consumables | BSE: 532762 | NSE: ACE

14 Nov 2011 Evaluate

Action Construction Equipment is currently trading at Rs. 38.05, up by 0.10 points or 0.26% from its previous closing of Rs. 37.95 on the BSE.

The scrip opened at Rs. 37.70 and has touched a high and low of Rs. 39.40 and Rs. 36.15 respectively. So far 15786 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 71.45 on 12-Nov-2010 and a 52 week low of Rs. 36.15 on 14-Nov-2011.

Last one week high and low of the scrip stood at Rs. 39.90 and Rs. 36.15 respectively. The current market cap of the company is Rs. 352.50 crore.

The promoters holding in the company stood at 65.64% while Institutions and Non-Institutions held 10.15% and 24.21% respectively.

Action Construction Equipment (ACE) has received an approval to amalgamate ACE Steel Fab with itself. The board at its meeting held on November 12, 2011 has approved for the same. The amalgamation will be done under section 391 and 394 of the Companies Act 1956 subject to approval of High Court of Delhi and other necessary approvals.

Further, the board has approved swap ratio of 24.22:1 i.e. 24.22 equity shares of Rs 2 each at par to be allotted for every 1 fully paid equity share of Rs 10 each to the members of ACE Steelfab, transferor company by Action Construction Equipment, transferee company.

Action Construction Equipment is more than a decade old enterprise and started with manufacturing of Hydraulic Mobile Cranes of different capacities under the brand name of ‘ACE’ at industrial township of Faridabad. ACE equipment is being successfully used in many industrial sectors. ACE range of cranes can be adapted to satisfy a vast range of possible applications due to their versatility.

Action Const. Equip Share Price

921.30 -24.45 (-2.59%)

11-May-2026 16:59 View Price Chart

Peers

Company Name	CMP
BEML	1912.10
Action Const. Equip	921.30
Sanghvi Movers	329.80
TIL	199.00
Brady & Morris Engg	905.35
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