BEML Shares Surge 4% to 52-Week High; Bags Rs 101 Crore Defence Order

23 Aug 2023 , 12:53 PM

BEML shares surged by 4 %, reaching a 52-week high of Rs 2,169 on August 23. The boost followed an order win worth Rs 101 crore announced on August 22. BEML received the order from the Ministry of Defence (Army) for supplying Command Post Vehicles.

The order signifies BEML’s involvement in serving defence sector needs. Previously, on August 7, the company secured a rolling stock order valued at Rs 3,177 crore from Bangalore Rail Corporation Limited.

In May 2023, BEML emerged as the lowest bidder for supplying 318 coaches for Bengaluru Metro’s upcoming phases. In the quarter ending June 2023, BEML demonstrated a reduction in net loss from Rs 82.36 crore to Rs 75.01 crore compared to the same quarter last fiscal.

BEML specializes in rail coaches, spare parts, and mining equipment, operating as a public sector undertaking. The company’s scope encompasses diverse sectors such as coal, mining, steel, power, aviation, defence, and more, offering high-quality products tailored to each sector’s needs.

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