Action Construction Equipment Ltd to allot CNPRPS

The Board of Directors of Action Construction Equipment Ltd at its meeting held on March 15, 2016, has considered, approved and decided to allot 1,84,90,500 no. of Equity Shares of Rs. 2/- each and 3,02,19,380 no. 8% Cumulative Non-Participating Redeemable Preference Shares of Rs. 10/- each to the shareholders of ACE TC Rentals Pvt Ltd. (transferor Company) pursuant to sanction of scheme of amalgamation as approved by the Hon'ble High Court of Punjab and Haryana and becoming effective on January 22, 2016 and comments received by SEBI as per Sebi Circular dated May 21, 2013 on dated March 02, 2016.

Shares of ACTION CONSTRUCTION EQUIPMENT LTD. was last trading in BSE at Rs.36.8 as compared to the previous close of Rs. 37.65. The total number of shares traded during the day was 16250 in over 71 trades.

The stock hit an intraday high of Rs. 38.1 and intraday low of 36.8. The net turnover during the day was Rs. 608909.

Source : Equity Bulls

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