ACE shares touched a day high of Rs 1,245.60 on 30 September after winning an order for 74 backhoe loaders from the defence ministry.

Action Construction Equipment Limited, or ACE, told the exchanges on 30 September that the Border Roads Organisation has ordered 74 four-wheel-drive backhoe loaders from it.

The Border Roads Organisation sits under the Ministry of Defence and looks after roads and other infrastructure in border areas.

A backhoe loader is a digging machine with a bucket at the front and a digging arm at the back. Builders use it for trenches, roadwork and moving earth.

No order value or delivery date has been reported so far. That leaves the size of the deal unclear for now. ACE said the win is part of its plan to grow its defence business.

It also fits the government’s Make in India and Aatmanirbhar Bharat drives, which back products built at home.

The firm makes cranes, earthmoving machines and other equipment used in construction and infrastructure work. Its latest results give some context.

In the June quarter, revenue rose 20.49% to Rs 785 crore from Rs 652 crore a year earlier. Against the previous quarter, it fell 23.68%.

The board was due to meet on 20 July to consider those results. The stock also went ex-dividend on 3 September for a payout of Rs 2 a share. Around 3.43 lakh shares changed hands.

It’s up 11.03% over the past month and 30.62% so far this year, though it lost 1.67% over the past week. Its 52-week high stands at Rs 1,268.00, set on 21 September.

At the close, shares settled at Rs 1,232.00 on the NSE, up by 2.17% from the previous close of Rs 1,205.80.

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