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BEML drops after weak Q3 earnings

Capital Market / 10:03 , Jan 27, 2012

BEML lost 2.39% to Rs 515 at 10:02 IST on BSE after net profit fell 20.4% to Rs 40.07 crore on 12.7% decline in net sales to Rs 574.50 crore in Q3 December 2011 over Q3 December 2010.

The company announced the results after market hours on Wednesday, 25 January 2012.

Meanwhile, the BSE Sensex was up 97.05 points, or 0.57% to 17,174.23.

On BSE, 3,547 shares were traded in the counter as against average daily volume of 15,796 shares in the past one quarter.

The stock hit a high of Rs 525 and a low of Rs 513.45 so far during the day. The stock had hit a 52-week low of Rs 413 on 19 August 2011. The stock had hit a 52-week high of Rs 954.95 on 25 January 2011.

The stock had outperformed the market over the past one month till 25 January 2012, surging 13.51% compared with Sensex's 8.5% rise. The scrip had also outperformed the market over the past one quarter, rising 8.9% as against Sensex's 1.03% fall.

The mid-cap state-run firm has equity capital of Rs 41.64 crore. Face value per share is Rs 10.

BEML (formerly Bharat Earth Movers) is a public sector undertaking primarily engaged in manufacturing and supplying equipment to defense & aerospace, rail & metro and mining & construction sectors. BEML is also into the business of e-Engineering, trading and dredging.

 



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