BEML share price today jumped 2 pct after company received Delhi Metro order worth Rs 501 cr

BEML share price today: Bharat Earth Movers Limited has received variation order to contract 'MRS1' from Delhi Metro rail Corporation (DMRC) for additional 12 train sets of 06 cars each (total 72 cars) to operate on line 2B and 7 of Mumbai metro project. The order is valued at Rs 501 cr. With this, the total contract value has increased to Rs 4318 cr from the existing Rs 3817 cr for supplies before August 2023.

At the current market price of Rs 667.5 the market cap of the company stands at Rs 2780 cr. Stock has recovered in past few months from the lows made of Rs 370 in past few months. The 52 week high on the stock is around Rs 1070 which indicates that technically there is good room on the upside for the stock.

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Many broking houses and analysts like this stock and prefer this in their list of defence sector pick. Also, in past few years, news many companies like L&T, Siemens and Bharat Forge have been on the list to acquire some stake in BEML.