BEML skids after posting higher net loss in Q1

BEML skidded 9.34% to Rs 930.10 at 11:10 IST on BSE after the company reported net loss of Rs 107.10 crore in Q1 June 2016, higher than net loss of Rs 68.10 crore in Q1 June 2015.

The result was announced after market hours yesterday, 14 September 2016.

Meanwhile, the BSE Sensex was up 2.75 points, or 0.01%, to 28,374.98.

Higher than normal volumes were witnessed on the counter. On BSE, so far 1.16 lakh shares were traded in the counter, compared with an average volume of 44,667 shares in the past one quarter. The stock hit a high of Rs 983.90 and a low of Rs 923.40 so far during the day. The stock hit a 52-week low of Rs 783.80 on 24 June 2016. The stock hit a 52-week high of Rs 1,324.40 on 4 January 2016. The stock had outperformed the market over the past one month till 14 September 2016, gaining 3.38% compared with 0.78% gains in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 20.55% as against Sensex's 7.49% gains.

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

BEML's total income fell 49.7% to Rs 300.52 crore in Q1 June 2016 over Q1 June 2015.

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 held 54% stake BEML (as per the shareholding pattern as on 30 June 2016).

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