BEML gains after plant visit by a Czech delegation

BEML rose 1.36% to Rs 991.60 at 13:25 IST on BSE after company said a high level delegation led by the defence minister of Czech Republic Mr. Martin Stropnicky visited the Bangalore complex of BEML on 20 February 2015.

The company made announcement after market hours on Friday, 20 February 2015.

Meanwhile, the S&P BSE Sensex was up 97.76 points or 0.33% at 29,329.17.

On BSE, so far 95,829 shares were traded in the counter as against average daily volume of 1.7 lakh shares in the past two weeks.

The stock hit a high of Rs 1,008.90 and a low of Rs 972.85 so far during the day. The stock had hit a 52-week high of Rs 1,024 on 19 February 2015. The stock had hit a 52-week low of Rs 195.45 on 20 February 2014.

The stock had outperformed the market over the past one month till 20 February 2015, gaining 7.65% compared with 1.55% rise in the Sensex. The scrip had also outperformed the market in past one quarter, jumping 38.46% as against Sensex's 4.15% rise.

The mid-cap stock has equity capital of Rs 41.64 crore. Face value per share is Rs 10.

BEML said that a high level delegation led by the defence minister of Czech Republic Mr. Martin Stropnicky visited the Bangalore complex of BEML on 20 February 2015. The delegation went around the manufacturing facilities of the company and held detailed discussions on the emerging areas of mutual business cooperation. Appreciating the technical competence of BEML, the Czech delegation expressed their interest in mutual co-operation.

BEML reported net loss of Rs 11.42 crore in Q3 December 2014 compared with net profit of Rs 5.51 crore in Q3 December 2013. Total income fell 25.3% to Rs 591.45 crore in Q3 December 2014 over Q3 December 2013.

BEML was established in May 1964 as a Public Sector Undertaking for manufacture of Rail Coaches & Spare Parts and Mining Equipment at its Bangalore Complex.

The Government of India holds 54.03% stake in the firm as at 31 December 2014.

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