BEML share price rises 4% on Rs 3,658 cr-order win from Chennai Metro Rail

BEML share price: Shares of State-owned BEML soared up to 3.60 per cent to hit an intraday high of Rs 4,338.95 per share, on Thursday, November 28, 2024.

 

The uptick in BEML share price came after the company announced that it has bagged an order worth Rs 3,658 crore, from Chennai Metro Rail Limited. The company had earlier said that the order was worth Rs 2,500 crore, according to a statement

 

In a fresh exchange filing, it said, "We would like to inform you that the letter referred to in our earlier communication has been withdrawn, as it was issued inadvertently.”

 

 

It added, “We wish to inform you that on November 27, 2024, Chennai Metro Rail Limited has awarded a contract to BEML for “Design, Manufacture, Supply, Testing, Commissioning, Training of Personnel and Comprehensive Maintenance Contract for Fifteen Years of Standard Gauge Metro Rolling Stock (Electrical Multiple Units) and Depot Machinery & Plant.”

 

Under the terms of the order, BEML will be tasked to design, manufacture, supply, testing, commissioning, training of personnel and comprehensive maintenance for fifteen (15) years of standard gauge metro rolling stock (electrical multiple units) and depot machinery & plant.

 

BEML manufactures a wide range of heavy earthmoving equipment catering to the mining and construction industry, vehicles for defence forces and coaches for the metro and Indian Railways.

 

The market capitalisation of BEML is Rs 17,816.35 crore , according to BSE. The stock falls under the BSE 500 category. 

 

The 52-week high of BEML share is Rs 5,489.15 apiece, while its 52-week low is Rs 2,385 per share. 

 

At 11:35 AM, shares of BEML were trading 2.18 per cent at Rs 4,279 per share. In comparison, BSE Sensex was trading 0.97 per cent or 781.34 points lower at 79,452.74 levels.