PESB research view: HoldStock
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PESB recommendation · Stock
₹1,050.55▲ 29.05 (+2.84%) todayNSE · as of 3 Nov 2026, 5:30 am
Recommended on 23 Dec 2025 by Aman Bansal
Our recommendation read against today's market data.
ACE is a leading Indian manufacturer of construction, material handling and agricultural equipment, established in 1995 and headquartered in Faridabad, Haryana. The company has a diversified product portfolio spanning pick-and-carry cranes, mobile and tower cranes, forklifts, backhoe loaders, vibratory rollers, motor graders, tractors and harvesters. ACE is the world's largest manufacturer of pick-and-carry cranes and holds a leadership position in India's mobile and tower crane segments.
India’s construction equipment market is witnessing a strong recovery, with FADA’s wheeled construction equipment volumes rising 31% YoY to 5,166 units in Aug’26, while ACE outperformed the industry with volumes up 41% YoY. The medium-term outlook is further supported by exports, with India’s construction equipment exports expected to grow 19% YoY in FY27, following 32% growth in FY26 and >70% growth over the past three years. ACE’s exports have already grown 29% in the first four months of FY27. With domestic infrastructure and capex recovery, continued market-share gains, rising exports, and additional growth opportunities from defence and the KATO JV, ACE appears positioned to sustain volume growth.
Research by Pune E-Stock Broking Ltd., SEBI Research Analyst Reg. No. INH000018197. Investments in the securities market are subject to market risks; read all related documents carefully before investing. Past performance is not indicative of future returns.
Market data from Accord; delayed, for information only.
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