BEML advances on bargain hunting

BEML rose 2.04% to Rs 1,468.10 at 14:19 IST on BSE, with the stock recovering on bargain hunting after recent slide.

Meanwhile, the S&P BSE Sensex was up 116.57 points, or 0.38% at 30,950.89. The S&P BSE Mid-Cap index was up 84.83 points, or 0.58% at 14,587.52.

On the BSE, 31,000 shares were traded on the counter so far as against the average daily volumes of 46,683 shares in the past one quarter. The stock had hit a high of Rs 1,482.25 and a low of Rs 1,432 so far during the day. The stock had hit a 52-week high of Rs 1,570.45 on 22 June 2017 and a 52-week low of Rs 770.15 on 23 November 2016.

 

The stock had outperformed the market over the past one month till 28 June 2017, advancing 18.25% compared with the Sensex's 0.62% fall. The scrip had also outperformed the market over the past one quarter gaining 9.87% as against the Sensex's 4.84% rise. The scrip had also outperformed the market over the past one year advancing 71.35% as against the Sensex's 16.25% rise.

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

Shares of BEML had declined 6.84% in the preceding three trading sessions to settle at Rs 1,438.75 yesterday, 28 June 2017, from its closing price of Rs 1,544.40 on 22 June 2017.

BEML's net profit rose 27.1% to Rs 186.40 crore on 17.1% increase in net sales to Rs 1315.95 crore in Q4 March 2017 over Q4 March 2016.

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 in BEML (as per the shareholding pattern as on 31 March 2017).

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