No further details were discosed.

The company made this announcement during trading hours today, 4 August 2008.

Meanwhile, the BSE Sensex was down 76.52 points, or 0.52%, to 14,580.17.

On BSE, 5.87 lakh shares were traded in the counter. The scrip had an average daily volume of 20,275 shares in the past one quarter.

The stock hit a high of Rs 87.50 and a low of Rs 69.55 so far during the day. The stock had hit a 52-week high of Rs 134 on 7 January 2008 and a 52-week low of Rs 52 on 1 July 2008.

The small-cap company had outperformed the market over the past one month till 1 August 2008, gaining 26.19% compared to the Sensex’s return of 11.93%. It had underperformed the market in the past one quarter, declining 19.84% compared to Sensex’s decline of 16.72%.

The company has an equity capital of Rs 17.98 crore. Face value per share is Rs 2.

The current price of Rs 81.50 discounts its Q1 June 2008 annualised EPS of Rs 5.46, by a PE multiple of 14.93.

Action Construction Equipment’s net profit rose 62.1% to Rs 12.27 crore on 67% increase in net sales to Rs 137.29 crore in Q1 June 2008 over Q1 June 2007.

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