The company made this announcement after the trading hours on Monday, 19 November 2007.

Meanwhile, BSE Sensex up 36.09 points or 0.18% to 19,669.45.

On BSE 4,048 shares were traded in the counter. The scrip had an average daily volume of 53,426 shares in the past one quarter.

The stock hit a high of Rs 493.95 and a low of Rs 480 so far during the day. The stock had a 52-week high of Rs 495.10 on 31 October 2007 and 52-week low of Rs 162 on 8 March 2007.

The small-cap scrip had outperformed the market over the past one month till 16 November 2007, gaining 30.36% compared to the Sensex’s return of 9.45%. It had also outperformed over the past one quarter, gaining 51.51% to Sensex’s gain of 39.29%.

The company’s current equity is Rs 17.98 crore. Face value per share is Rs 10.

The current price of Rs 485.75 discounts Q2 September 2007 annualized EPS of Rs 20.69 by a PE multiple of 23.48.

Following the stake hike, Frested now holds 89.5% stake in SC FORMA SA.

Action Construction Equipment’s net profit rose 119.3% to Rs 9.30 crore on 73.7% growth in net sales to Rs 90.37 crore in Q2 September 2007 over Q2 September 2006.

The company is engaged in manufacturing and selling cranes. The products include hydraulic mobile cranes, tower cranes, loader and other construction equipments.