BEML gallops on bargain hunting

BEML rose 2.50% to Rs 688 at 15:09 IST on BSE on bargain hunting after the stock fell 15.94% in the preceding four trading sessions to Rs 671.25 on 16 December 2014, from a recent high of Rs 798.50 on 10 December 2014.

Meanwhile, the BSE Sensex was down 59.76 points, or 0.22%, to 26,721.68.

On BSE, so far 1.63 lakh shares were traded in the counter, compared with an average volume of 1.04 lakh shares in the past one quarter.

The stock hit a high of Rs 713.60 and a low of Rs 640.10 so far during the day. The stock hit a 52-week high of Rs 877.50 on 25 June 2014. The stock hit a 52-week low of Rs 180.05 on 4 February 2014.

The stock had underperformed the market over the past one month till 16 December 2014, falling 7.82% compared with 4.51% fall in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 2.54% as against Sensex's 1.09% rise.

The small-cap company has an equity capital of Rs 41.64 crore. Face value per share is Rs 10.

BEML reported net loss of Rs 55.14 crore in Q2 September 2014, higher than net loss of Rs 38.88 crore in Q2 September 2013. Total income fell 39.48% to Rs 458.78 crore in Q2 September 2014 over Q2 September 2013.

BEML was established in May 1964 as a public sector undertaking for manufacture of rail coaches & spare parts and mining equipment. The Government of India holds 54.03% stake in the firm as at 30 September 2014.

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