Why analysts are positive on BEML stock despite muted Q1 expectations

BEML (earlier Bharat Earth Movers) has corrected more than 10 per cent from its 52-week highs in April. While the soft execution during the March quarter and muted expectation in the June quarter due to the elections has impacted sentiment, analysts continue to be positive on the stock, given the multiple triggers.

The company is the largest beneficiary of government thrust on railway projects, particularly Metro rail. The company had received strong order inflow in 2018-19 (FY19) itself, led by the Mumbai Metro order of Rs 3,015 crore, which boosted the order book by 36 per cent to Rs 9,130