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Buy Action Construction Equipment; target of Rs 230: ICICI Direct

ICICI Direct is bullish on Action Construction Equipment has recommended buy rating on the stock with a target price of Rs 230 in its research report dated May 25, 2022.

May 26, 2022 / 08:10 AM IST

"India’s specialty chemicals industry is a decadal growth opportunity and it is still not too late to participate in the value creation process. We prefer CRAMS/CSM players Navin Fluorine (Navin) and PI Industries (PI) as they provide long-term earnings visibility. We also like UPL due to robust growth outlook and reducing debt concerns and SRF due to rising contribution from the chemicals business," JM Financial research report.

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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.


We continue to remain positive and retain our BUY rating on the stock. We value ACE at Rs 230 i.e. 17x PE (FY24E).


For all recommendations report, click here

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

Broker Research
first published: May 26, 2022 08:10 am
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