Shares of Action Construction Equipment Ltd were trading in the green and almost 1% higher on Friday, 21 February, after the Ministry of Defense (MoD) awarded a Rs 420 crore procurement order for Rough Terrain Fork Lift Trucks (RTFLT).
 
In its regulatory filing, the company said, “In a In a significant boost to India’s defence infrastructure and indigenous manufacturing capabilities, Action Construction Equipment Limited (ACE) has secured the largest order in its history, reinforcing its commitment to the Government of India’s ‘Make in India’ and ‘Aatma Nirbhar Bharat’ initiatives.”

The company claims that in front of Defence Secretary R K Singh, the Ministry of Defence (MoD) has signed contracts for the procurement of 1,868 Rough Terrain Fork Lift Trucks (RTFLT).  ACE acquired a 60% stake in the order. 

ACE will deliver 1,121 RTFLTs, attachments, and other accessories valued at a total of Rs 420 crore. 

The RTFLT is an essential part of the Indian Army, Indian Air Force, and Indian Navy, with the goal of enhancing combat readiness and logistical effectiveness. By reducing the need for human intervention in managing massive quantities of essential supplies, the RTFLT significantly improves the operational effectiveness of the defence forces.

Sorab Agarwal, executive director of ACE, said, “This is a momentous achievement for ACE, marking our single largest order to date and a testament to our unwavering commitment to innovation and excellence. We take immense pride in playing a crucial role in strengthening our nation’s defence logistics with indigenously designed and manufactured solutions.”

Action Construction Equipment is a leading manufacturer in India’s construction and material handling equipment market, with a wide range of mechanical capabilities. ACE makes crawler cranes, backhoe loaders, forklifts, tractors, harvesters, and other equipment in addition to tower cranes and mobile cranes. 

However, at 11:24 am, the shares of ACE were trading 2.78% lower at Rs 1,212.50 on NSE. 

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