BEML shares rise 3% on signing an accord with Tesmec S.P.A Italy

BEML Shares Price Today: The buying on the counter came after the company inked a memorandum of understanding (MoU) with Tesmec for introducing surface miner equipment for mining applications

BEML shares rose 3.1 per cent, logging an intra-day high at ₹4,535 per share on BSE. At 11:22 AM, BEML's share price was up 2.3 per cent on BSE at ₹4,498.8 per share. In comparison, the BSE Sensex was down 0.28 per cent at 84,322.73.

 

The market capitalisation of the company stood at ₹18,723.99 crore. The 52-week high was at ₹4,874.85 per share, and the 52-week low was at ₹2,346.35.  

Why were BEML shares in demand?

The buying on the counter came after the company inked a memorandum of understanding (MoU) with Tesmec for introducing surface miner equipment for mining applications.

 

 

"BEML Limited and M/s. Tesmec, S.P.A Italy has entered into a Memorandum of Understanding (MoU) for introducing Surface Miner equipment by BEML for Mining applications," the filing read. 

 

That apart from that, recently, BEML and Kineco entered an MoU, to collaborate in the field of advanced composite manufacturing for aerospace and defence applications. 

 

As part of the collaboration, BEML and Kineco will jointly engage in the development and manufacturing of carbon fibre reinforced polymer (CFRP) structures, glass fibre reinforced polymer (GFRP) panels and components, honeycomb cores, foams, and bonding consumables for metallic detail parts. 

 

These advanced materials are integral to next-generation aerospace and defence systems, offering lightweight strength, enhanced durability, and superior performance.

 

"By integrating Kineco's composite manufacturing expertise with BEML's engineering excellence, we aim to create world-class solutions that reinforce India's pursuit of Aatmanirbhar Bharat and Make in India in high-value defence technologies," BEML CMD Roy said.

 

BEML, under the administrative control of the Ministry of Defence, operates in three verticals - construction and mining, rail and metro, and defence and aerospace.

 

BEML Limited, formerly known as Bharat Earth Movers Limited, is an Indian public sector undertaking established in May 1964 and headquartered in Bengaluru. 

 

The company is a key player in India’s infrastructure and defence sectors, manufacturing heavy equipment for mining, construction, defense, and rail & metro applications.  

 

It operates through three core business verticals: Defence and Aerospace, Mining and Construction, and Rail and Metro.