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BEML surges on signing MoU with Delhi Metro Rail Corporation

BEML surges on signing MoU with Delhi Metro Rail Corporation

BEML is currently trading at Rs. 1437.75, up by 33.75 points or 2.40% from its previous closing of Rs. 1404.00 on the BSE.

BEML
BEML

The scrip opened at Rs. 1437.25 and has touched a high and low of Rs. 1443.35 and Rs. 1419.80 respectively. So far 2033 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 1933.00 on 02-Sep-2022 and a 52 week low of Rs. 1106.40 on 20-Jun-2022.

Last one week high and low of the scrip stood at Rs. 1453.50 and Rs. 1374.65 respectively. The current market cap of the company is Rs. 5846.89 crore.

The promoters holding in the company stood at 54.03%, while Institutions and Non-Institutions held 25.37% and 20.61% respectively.

BEML has signed a Memorandum of Understanding (MoU) with Delhi Metro Rail Corporation (DMRC) led SPV, who have been shortlisted for constructing the Bahrain Metro Rail Project Phase-1.

As a part of this MoU, BEML will be responsible for manufacturing and supply of Metro Rolling Stock and DMRC will provide expertise in the fields of project development, budgeting and facilitating of contractual obligations. The MoU will allow BEML to leverage its manufacturing expertise and technologies to optimize business operations for urban transportation Metro Rolling Stock and expand on a global level.

BEML a leading mining and construction equipment manufacturer has designed and developed indigenously over 40 products through its R&D, and are not only working in India but also in 65 countries around the world.