You are here: Home » News-CM » Equities » Hot Pursuit
Business Standard

BEML unveils driverless metro car for MMRDA

Capital Market 

Union Defence Minister Rajnath Singh on Friday (15 January 2021) unveiled driverless metro car for Mumbai Metropolitan Region Development Authority (MMRDA) at a function held at BEML's Bangalore Complex.

At the same function, Rajnath Singh, also virtually launched the Aerospace Assembly Hangar, situated within BEML's Bangalore complex, and unveiled first indigenously manufactured Tatra Cabin by BEML.

The driverless metro trains are being manufactured at BEML's Bangalore complex. The cars will operate on 25 kV AC traction power and equipped with CCTV surveillance and will have the provision to carry passenger bicycles in the coaches. The cars are made up of stainless‐steel body with a capacity of carrying 2280 passengers in 6 cars Metro train‐set.

BEML bagged a total order of 576 cars for MMRDA's MRS1 project, the largest order ever. The supply is scheduled progressively upto January 2024.

BEML's order book position looks healthy at over Rs 12,000 crore. With the government's push for 'Atmanirbharta' it may grow further, the company said.

On a consolidated basis, BEML posted a net profit of Rs 17.22 crore in Q2 September 2020 as against net loss of Rs 27.20 crore in Q2 September 2019. Net sales stood at Rs 663.72 crore in Q2 FY21, falling 3.4% from Rs 687.11 crore in Q2 FY20.

BEML is a multi-technology schedule 'A' company under the Ministry of Defence. The company operates in three verticals viz. defence & aerospace, mining & construction and rail & metro. As on 31 December 2020, the government held 54.03% stake in BEML.

Shares of BEML fell 1.78% to Rs 945.30 on Friday (15 January 2021). The scrip has surged 155.76% from its 52-week low of Rs 369.60 hit on 24 March 2020.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Sat, January 16 2021. 13:00 IST