Buy Action Construction Equipment; target of Rs 320: ICICI Direct

ICICI Direct's research report on Action Construction Equipment

Action Construction Equipment (ACE) is an Indian construction equipment and material handling company. ACE has eight manufacturing and one R&D site in Faridabad, Haryana The company has a capacity of 12000 construction equipment and 9000 tractors annually ACE’s product portfolio is divided into four main categories viz. agricultural equipment, construction equipment, road construction equipment and earth-moving machinery

Outlook

We continue to remain positive and retain our BUY rating on the stock We value ACE at Rs 320 i.e. 15x EV/EBIDTA (FY23E).

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Read More