The key equity benchmark traded with minor gains in mid-morning trade. The Nifty traded above the 24,550 mark after hitting the day's low of 24,522.95 in mid-morning trade. PSU bank shares advanced for the second consecutive trading session. At 11:30 IST, the barometer index, the S&P BSE Sensex, added 52.71 points or 0.07% to 80,489.55. The Nifty 50 index gained 36.75 points or 0.15% to 24,591.75. The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index jumped 0.55% and the S&P BSE Small-Cap index rallied 1.20%. The market breadth was strong. On the BSE, 2,674 shares rose and 1,163 shares fell. A total of 180 shares were unchanged. Economy: India's forex reserves declined $4.8 billion to $670.119 billion for the week ended August 9, according to the latest RBI data. In the previous reporting week, the country's foreign exchange reserves had increased $7.533 billion to an all-time high of $674.919 billion. For the week ended August 9, foreign currency assets, a major component of the reserves, decreased by $4.079 billion to $587.96 billion. Gold reserves declined by $860 million to $59.239 billion during the week. The special drawing rights (SDRs) were up by $121 million to $18.282 billion. India's reserve position with the IMF increased by $18 million to $4.638 billion in the reporting week, the central bank data showed. IPO Update : The initial public offer (IPO) of Interarch Building Products received 27,40,704 bids for shares as against 46,91,585 shares on offer, according to stock exchange data at 11:15 IST on Monday (19 August 2024). The issue was subscribed 0.58 times. The issue opened for bidding on Monday (19 August 2024) and it will close on Wednesday (21 August 2024). The price band of the IPO is fixed between Rs 850 to Rs 900 per share. An investor can bid for a minimum of 16 equity shares and in multiples thereof. Buzzing Index : The Nifty PSU bank index added 1.58% to 6,952.10. The index gained 2.62% in the two consecutive trading sessions. Punjab & Sind Bank (up 3.68%), Central Bank of India (up 3.05%), Canara Bank (up 2.25%), Union Bank of India (up 2.2%), UCO Bank (up 2.13%), Bank of Baroda (up 2.12%), Bank of Maharashtra (up 1.63%), Punjab National Bank (up 1.62%), Indian Overseas Bank (up 1.43%) and Bank of India (up 1.42%) edged higher. Stocks in Spotlight : Action Construction Equipment (ACE) added 1.93% after the company announced that it has been awarded with an order for supplying forklifts and cranes from the Ministry of Defence (MoD). The company would be supplying 285 numbers for special forklifts and 6 numbers of rough terrain cranes with 30 tonne Lifting capacity to MoD. DCX Systems was locked in an upper circuit of 5% after the company informed that it has received orders worth Rs 107.08 crore from domestic and overseas customers. Veranda Learning Solutions rose 0.61%. The company said that it has partnered with Jumeira University Connect, the training arm of Jumeira University, to introduce a Chartered Accountancy (CA) preparation course for students in the UAE. Global Markets : Asian stocks traded mixed on Monday as investors weighed optimism about a US economic soft landing against concerns over the global growth outlook. Expectations of cooling inflation and a potential easing cycle by the Federal Reserve buoyed sentiment. However, investors remained cautious ahead of key US economic data this week and Federal Reserve Chair Jerome Powell's speech on Friday. In Asia, market participants will closely monitor central bank meetings in Indonesia and South Korea for potential rate adjustments. Thailand's policy decision is particularly awaited given uncertainties surrounding the new government's economic plans. US stocks rebounded from earlier losses to close higher on Friday, as a report showing improved consumer sentiment boosted investor confidence. The Dow Jones Industrial Average rose 0.24%, the S&P 500 climbed 0.20% and the Nasdaq Composite gained 0.21%. The University of Michigan's gauge of consumer sentiment rose to 67.8 in a preliminary August reading, up from 66.4 in the prior month. It is the first gain after four months of declines. Powered by Capital Market - Live

The company would be supplying 285 numbers for special forklifts and 6 numbers of rough terrain cranes with 30 tonne Lifting capacity to MoD. Action Construction Equipment (ACE) is an established and reputed brand with a significant presence across diversified sectors like construction, infrastructure, manufacturing, logistics and agriculture. The company's consolidated net profit rose 24.62% to Rs 84.18 crore on a 12.68% increase in sales to Rs 734.26 crore in Q1 FY25 over Q1 FY24. Powered by Capital Market - Live

Action Construction Equipment has been awarded with a prestigious order for supply of 285 numbers for Special Forklifts and 6 numbers of Rough Terrain Cranes with 30 tonne Lifting capacity from Ministry of Defence (MoD).Powered by Capital Market - Live

Net profit of Action Construction Equipment rose 24.62% to Rs 84.18 crore in the quarter ended June 2024 as against Rs 67.55 crore during the previous quarter ended June 2023. Sales rose 12.68% to Rs 734.26 crore in the quarter ended June 2024 as against Rs 651.61 crore during the previous quarter ended June 2023. ParticularsQuarter EndedJun. 2024Jun. 2023% Var. Sales734.26651.61 13 OPM %13.4312.53 - PBDT118.8494.75 25 PBT111.9989.54 25 NP84.1867.55 25 Powered by Capital Market - Live

Action Construction Equipment announced that the 30th Annual General Meeting (AGM) of the company will be held on 27 August 2024.Powered by Capital Market - Live