Crane manufacturer and Sanghvi Movers Ltd Sign Strategic MOU for Indigenously Manufactured Heavy Cranes

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Crane manufacturer and Sanghvi Movers Ltd Sign Strategic MOU for Indigenously Manufactured Heavy Cranes

The stock gave 2.51 per cent returns from its 52-week low; multibagger returns of 180 per cent in 3 years and a whopping 2,000 per cent in a decade.

Construction-equipment-ltd-132762https://insights.dsij.in/share-price/action-chttps://insights.dsij.in/share-price/action-construction-equipment-ltd-132762onstruction-equipment-ltd-132762">Action Construction Equipment Limited (ACE), the world's largest Pick-n-Carry crane manufacturer, and Sanghvi Movers Limited, India's largest crane rental company, have signed a strategic Memorandum of Understanding (MOU). This collaboration is aimed at significantly increasing the deployment and usage of indigenously manufactured Heavy Slew Cranes, including Truck Cranes and Crawler Cranes, across India's major infrastructure and industrial projects. The partnership directly supports the Government of India's "Aatmanirbhar Bharat" and "Make in India" initiatives by prioritising the market adoption of Indian-made heavy lifting equipment and reducing the nation's Reliance on imported cranes.

Under the terms of the MOU, Sanghvi Movers will progressively expand its fleet by incorporating heavy cranes manufactured by ACE. This commitment directly supports domestic manufacturing and aims to enable faster, more cost-efficient, and reliable project execution nationwide. Simultaneously, ACE will focus on providing priority product support, customisation, and technical solutions tailored to India's rapidly growing infrastructure sector. This joint initiative is expected to drive substantial import substitution, develop local supply chains, and contribute significantly to employment generation and technology advancement within the country, strengthening India's capabilities as it accelerates infrastructure development.

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About the Company

ACE, established in 1995 and headquartered in Palwal, Haryana, is the world's largest manufacturer of Pick & Carry cranes, commanding a dominant market share of over 63 per cent in the domestic Mobile cranes segment and around 60 per cent in Tower Cranes. The company offers an extensive and diverse product portfolio that makes it a one-stop solution for construction and material handling equipment, including various types of Mobile/Fixed Tower, Electric, Crawler, and Truck Cranes, along with Backhoe Loaders, Loaders, Motor Graders, Vibratory Rollers, Hydraulic Piling Rigs, Tele-handlers, Aerial Work Platforms, and a full range of Agricultural Machinery like Tractors and Combine Harvesters. ACE supports its vast offerings with one of the widest sales and service networks in India, comprising over 125+ locations and 13 regional offices, and exports its equipment to more than 37 countries across the Middle East, Africa, Asia, and Latin America.

The company has a market cap of over Rs 11,000 crore. The stock gave 2.51 per cent returns from its 52-week low; multibagger returns of 180 per cent in 3 years and a whopping 2,000 per cent in a decade.

Disclaimer: The article is for informational purposes only and not investment advice.