BEML shares surge after bagging order worth Rs 385 crore from BDL and BEL

BEML share price NSE: BEML shares surged on Wednesday after bagging order worth Rs 385 crore from BDL and BEL for the supply of high-mobility vehicles (HMV). The total contract value for the order is Rs 385 crore. Post the announcement, the stock surged to trade at Rs 1,621.9, up by Rs 48.20, or 3.06 per cent on the NSE. BEML stock opened at Rs 1,585.8 and gained as much as over 4 per cent to touch the day's high of Rs 1,639.9 from the previous close of Rs 1,573.7 on NSE.

The PSU company, which manufactures a variety of heavy equipment, such as that used for earth moving, railways, transport, and mining, said in its regulatory filing, "We hereby inform that BEML Limited has bagged orders from BDL and BEL for the supply of High Mobility vehicles (HMV). The total Contract value is Rs 385 crore."

BEML's share price history

BEML's stock has given a positive return of nearly 28 per cent in the last 12 months (since June 28, 2022). In comparison, the headline index, Nifty 50, has rallied nearly 20 per cent.
BEML has a market cap of around 6,75,682.01 lakh as per NSE. The counter is available at a discounted rate of over 18 per cent from its 52-week high of 1,933.95 touched in September 2022, on the NSE.

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