BEML stock jumps ~2% on receipt of a $19.71 million order

28 Aug 2023 , 10:00 AM

BEML shares rose 2% in early trade on August 28 after the business got an export order for a BEML Dozer BD355 valued at $19.71 million from KAMSS Ltd, Russia.

The contract will be carried out in stages beginning in August 2023, for which a purchase order has been obtained.

At around 9:55 AM, BEML was trading 1.79% higher at Rs 2,140 per share, against the previous close of Rs 2,102.40 on NSE. The counter rose to an intraday high of Rs 2,169 in today’s trade.

The company announced on August 22 that it has received an order from the Ministry of Defence (Army) for the supply of Command Post Vehicles with a contract value of Rs 101 crore.

BEML is a public-sector enterprise that manufactures rail coaches, spare parts, and mining equipment. Its goods are intended for use in a variety of industries, including coal, mining, steel, limestone, power, irrigation, construction, road building, aviation, defense, metro, and railways.

In the fiscal year ending June 2023, the company reduced its net losses to Rs 75.01 crore from Rs 82.36 crore the previous year.

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