BEML inches up after order win

BEML was up 0.6% to Rs 947 after the company bagged further orders from Delhi Metro Rail Corporation worth about Rs 729 crore.

Meanwhile, the S&P BSE Sensex was down 31 points or 0.08% at 37,642.45.

On the BSE, 5,626 shares were traded in the counter so far compared with average daily volumes of 99,000 shares in the past two weeks. The stock hit a high of Rs 956.4 and a low of Rs 946 so far during the day.

The stock hit a 52-week high of Rs 1034.35 on 3 April 2019 and a 52-week low of Rs 521 on 26 October 2018.

Bharat Earth Movers (BEML) announced after market hours on Friday 4 October 2019 that the company has received new orders in Metro from M/s Delhi Metro Rail Corporation (DMRC). The order is for 'RS15' - design, manufacture, supply, testing and commissioning of 80 units Broad Gauge Intermediate Cars compatible with existing 'RS1' type trains for conversion of 6-car train set to 8-car train set.

On a consolidated basis, the PSU company reported a net loss of Rs 98.21 in Q1 June 2019 as compared to a net loss of Rs 162.56 Q1 June 2018. The company's net sales were up 28% in Q1 June 2019 as compared to Rs 580.02 crore as compared to Q1 June 2018.

BEML is the leading manufacturer of heavy earth moving equipment in Asia and an Indian Public Sector company under the Ministry of Defence, Government of India. The Government of India holds 54.03% stake in the company as of 30 June 2019.

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