BEML is trading higher by 4% to Rs 810, extending its 17% rally in past three trading sessions, on hopes of the government will introduce new policies and liberalised foreign direct investment (FDI) in the defence sector.
The stock opened at Rs 786 and hit a high of Rs 832, its highest level since February 2011, on the BSE. A combined 1.04 million shares changed hands on the counter so far on the BSE and NSE.
Addressing the first joint sitting of Parliament after the recent Lok Sabha elections, President Pranab Mukherjee said the government will introduce new policies including liberalised FDI in defence to strengthen and develop a strong indigenous defence industrial base.
Meanwhile, the stock of state-owned company has almost doubled in past one month from Rs 422 on May 9, compared to 11% rise in benchmark S&P BSE Sensex.
The stock opened at Rs 786 and hit a high of Rs 832, its highest level since February 2011, on the BSE. A combined 1.04 million shares changed hands on the counter so far on the BSE and NSE.
Addressing the first joint sitting of Parliament after the recent Lok Sabha elections, President Pranab Mukherjee said the government will introduce new policies including liberalised FDI in defence to strengthen and develop a strong indigenous defence industrial base.
Meanwhile, the stock of state-owned company has almost doubled in past one month from Rs 422 on May 9, compared to 11% rise in benchmark S&P BSE Sensex.
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