New Delhi, Sept. 22 -- Action Construction shares have surged nearly 50% over the past six months. However, despite the stock's sharp recent gains, ICICI Direct believes the rally still has further room to run.

On Tuesday, 22 September, the stock rose nearly 3% during the session to hit an intraday high of Rs.1,262.90, looking set to extend gains for the seventh consecutive session.

As per BSE data, the stock has jumped 50% in the last six months, while year-to-date, the stock has gained 32%.

The stock hit a 521-week high of Rs.1,267.05 on 21 September, while it hit a 52-week low of Rs.746.10 on 30 March.

On a monthly scale, Action Construction share price is up nearly 12% so far in September and is on course to extend gains for the f...