BEML shares jump 6% on signing MoUs with Siemens and Dragflow S.R.L

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BEML shares jumped 6.1 per cent on BSE, logging an intraday high at Rs 2642.1 per share. The stock gained after the company inked a Memorandum of Understandings (MoU) with Siemens and  Dragflow S.R.L., Italy Forge. 

 

Around 12:21 PM, BEML share price was up 2.58 per cent at Rs 2,552.85 per share on BSE. In comparison, the BSE Sensex was down 0.02 per cent at 74,018.14. The market capitalisation of the company stood at Rs 10,631.22 crore. The 52-week high of the stock was at Rs 5,489.15 per share and the 52-week low was at Rs 2,346.35 per share. 

 

Under the contract, BEML and Siemens will explore opportunities related to a few railway segments. 

 

"BEML Limited and Siemens Limited, India, have signed a non-binding MoU to jointly explore opportunities in the semi-high-speed and suburban passenger train segments, as well as metro and commuter rail markets.," the filing read. 

 

Besides, under the contract with Dragflow, both companies will strengthen indigenous dredging solutions. 

 

"BEML Ltd. and Dragflow S.R.L., Italy Forge, have signed an MoU to Strengthen Indigenous Dredging Solutions," the filing read. 

 

In December, BEML bagged an order worth Rs 136 crore from Defence Ministry for High Mobility Vehicles 8x8.

 

Manufactured at BEML's state-of-the-art facilities, the HMV 8x8 is engineered for exceptional reliability and versatility, even in the toughest conditions, BEML claimed.  

 

Its key features include an independent suspension system, a high-power air-cooled engine, a central tire inflation system, an anti-lock braking system, and a backbone tube chassis design. Together, these features ensure outstanding mobility, stability, and operational safety.

 

Moreover, the HMV 8x8 performs reliably in extreme climates, ranging from -20°C to +55°C, and at altitudes up to 5,000 meters above sea level.

 

The vehicle’s modular architecture offers unparalleled adaptability, allowing seamless integration of diverse superstructures without the need for special modifications. The design innovation minimises costs and ensures high commonality across BEML’s military vehicle range, which spans configurations from 4x4 to 12x12, BEMl added. These advantages streamline maintenance and logistics for the armed forces, majorly enhancing overall operational efficiency.

 

In the past one year, BEML shares have lost 10 per cent against Sensex's rise of 1.7 per cent.