BEML rallies 4% to 52-week high on winning Rs 101-crore defence order

BEML shares rose 4% to hit a 52-week high of Rs 2,169 in early trading on August 23 as the company cashed out orders worth Rs 101 crore.
In a statement on August 22, the company said it had received an order from the Ministry of National Defense (Military) for the supply of command vehicles with a contract value of approximately Rs 101 crore.
On 7th August they received an order for rolling stock worth Rs 3,177 crore from Bangalore Rail Corporation Limited. In May 2023, BEML became the lowest bidder to supply 318 carriages for the Stage 2, Phase 2A and Phase 2B Corridor of Bengaluru Metro. In the quarter ended June 2023, the company’s net loss fell to Rs 75.01 crore from Rs 82.36 crore in the same quarter of the previous financial year. BEML is a state-owned manufacturer of mining carts, parts and equipment.
The company is a multi-technology company, providing high quality products to many sectors of the economy such as coal, mining, steel, limestone, electricity, irrigation, construction, road construction, air, defense, subway and railway.
At 09:19, BEML was trading at Rs 2,168, up Rs 82.05, or 3.93% on BSE.