BEML recovers after recent slide

BEML rose 2.23% to Rs 1086.60 at 15:16 IST on BSE, with the stock recovering on bargain hunting after recent slide.

Meanwhile, the S&P BSE Sensex was down 239.09 points or 0.83% at 28,426.95.

On BSE, so far 65,000 shares were traded in the counter as against average daily volume of 1.31 lakh shares in the past one quarter.

The stock hit a high of Rs 1,119.50 and a low of Rs 1,056.80 so far during the day. The stock had hit a 52-week high of Rs 1,200 on 9 April 2015. The stock had hit a 52-week low of Rs 380.50 on 30 April 2014.

The stock had outperformed the market over the past one month till 16 April 2015, advancing 4.23% compared with Sensex's 0.8% rise. The scrip had also outperformed the market in past one quarter, surging 15.8% as against Sensex's 1.93% rise.

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

Shares of BEML had fallen 8.78% in prior four trading sessions to settle at Rs 1,062.85 yesterday, 16 April 2015, from a recent high of Rs 1,165.20 on 9 April 2015.

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. Net sales 27.1% to Rs 563.15 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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