BEML rose 1.68% to Rs 763 at 09:35 IST on BSE after the company was awarded contract from DMRC for supply of 378 metro coaches.
The announcement was made on Friday, 23 November 2018 when the stock markets were closed for local holiday.Meanwhile, the S&P BSE Sensex was up 33.10 points, or 0.09% at 35,014.12
On the BSE, 33,000 shares were traded on the counter so far as against the average daily volumes of 1.17 lakh shares in the past two weeks. The stock had hit a high of Rs 777 and a low of Rs 759 so far during the day.
BEML has been awarded the Letter of Acceptance from DMRC for supply of 378 metro coaches (63 metro trains) to Mumbai Metro Line - 2 & 7 project. The contract is worth about Rs 3015 crore and the scope of work include design, manufacture, supply, testing & commissioning of 378 metro coaches, supply of spares and training of personnel. As per the contractual timelines, train deliveries are scheduled to commence from July 2020 until September 2022.
BEML's net profit rose 65.59% to Rs 16.89 crore on 6.44% increase in net sales to Rs 734.05 crore in Q2 September 2018 over Q2 September 2017.
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.
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