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On Wednesday, November 15, 2017, Vijay Agarwal (60,000) and Sorab Agarwal (26,000) had purchased a combined 86,000 shares of Action Construction Equipment through open market, the company said in a regulatory filing.
Post transaction, the combined holding of Vijay Agarwal and Sorab Agarwal, has increased to 41.39% from 41.31%, it added. The promoters held 73.1% stake in the company as on September 30, 2017, the shareholding pattern data shows.
Action Construction Equipment engaged in transport related services business reported more than doubled net profit at Rs 11 crore in September 2017 quarter. It had profit of Rs 4 crore in the same quarter last fiscal.
At 01:49 PM; the stock was up 16% at Rs 129 on the BSE, as compared to unchanged in the S&P BSE Sensex at 33,342 points. The trading volumes on the counter nearly doubled with a combined 4.1 million shares changed hands on the BSE and NSE.