India's Action Construction Equipment at 6-week high; brokerage sees growth prospects

Action Construction Equipment ACEL.NS rises 5.5% to 1,119.6 rupees, highest since July 24

ICICI Securities says co likely to be primary beneficiary of government plans to support local manufacturing, construction equipment firms

Local media reports say government proposed 130 billion-rupee ($1.5 billion) incentive scheme for domestic firms to boost manufacturing activity; Reuters could not immediately verify report

Brokerage says rating agencies estimate move can boost construction equipment firms' share in the industry to 70%-80% from 50% currently

About 2.8 million shares traded, 4x the 30-day avg

Year-to-date, ACEL falls ~27%

($1 = 88.1440 Indian rupees)