BEML slips on profit booking

BEML fell 2.67% to Rs 1,097.50 at 15:22 IST on BSE on profit booking after the stock rose 7.25% in the preceding five trading sessions to Rs 1,127.60 on 1 December 2015, from a recent low of Rs 1,051.40 on 23 November 2015.

Meanwhile, the BSE Sensex was down 52.91 points, or 0.20%, to 26,116.50.

On BSE, so far 25,000 shares were traded in the counter, compared with an average volume of 25,396 shares in the past one quarter.

The stock hit a high of Rs 1,134 and a low of Rs 1,089.45 so far during the day. The stock hit a 52-week high of Rs 1,609 on 21 July 2015. The stock hit a 52-week low of Rs 640.10 on 17 December 2014.

The stock had underperformed the market over the past one month till 1 December 2015, sliding 3.36% compared with 1.83% decline in the Sensex. The scrip had also underperformed the market in past one quarter, falling 8.64% as against Sensex's 1.84% decline.

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

BEML reported net loss of Rs 30.16 crore in Q2 September 2015 as against net loss of Rs 55.14 crore in Q2 September 2014. Net sales rose 38.04% to Rs 617.08 crore in Q2 September 2015 over Q2 September 2014.

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 54.03% stake BEML (as per the shareholding pattern as on 30 September 2015).

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