2,100 per cent multibagger returns: Crane manufacturing company bags new order from Ministry of Defence (MoD)

The stock gave multibagger returns of over 100 per cent from its 52-week low, 530 per cent in 3 years and a whopping 2,100 per cent in 5 years.

Action Construction Equipment Limited (ACE Ltd) has secured a significant order from the Ministry of Defence (MoD) for the supply of 285 Special Forklifts and 6 Rough Terrain Cranes, marking a substantial step forward in the Company's strategic expansion into the defence sector. This prestigious contract underscores the Company's commitment to the Indian government's 'Make in India' and 'AatmaNirbhar Bharat' initiatives, as it demonstrates the Company's capability to provide critical equipment for the nation's defence forces.

Today, shares of ACE Ltd plunged 0.38 per cent to Rs 1,306.80 per share from its previous close of Rs 1,311.85. The 52-week high for the stock is Rs 1,693.05 and the 52-week low is Rs 643.50.

Action Construction Equipment Ltd has a market cap of over Rs 15,000 crore. The company is engaged in the business of manufacturing and marketing hydraulic mobile cranes, mobile tower cranes and material handling equipment like forklifts and road construction equipment.

Taking into consideration the financial performance, the company reported positive numbers in its Quarterly Results (Q1FY25) and annual results (FY24). In Q1FY25, FIIs increased their stake to 10.13 per cent compared to 9.35 per cent in Q4FY24. The stock gave multibagger returns of over 100 per cent from its 52-week low, 530 per cent in 3 years and a whopping 2,100 per cent in 5 years. Investors should keep an eye on this mid-cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.

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