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Indian-Commodity  :  Equity & Shares  :  BEML shines on inking MoU with defence ministry for production of various weapons platforms

BEML shines on inking MoU with defence ministry for production of various weapons platforms (05-Jul-2017)

BEML is currently trading at Rs. 1552.95, up by 34.60 points or 2.28% from its previous closing of Rs. 1518.35 on the BSE.

The scrip opened at Rs. 1524.75 and has touched a high and low of Rs. 1556.65 and Rs. 1515.40 respectively. So far 44305 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1570.45 on 22-Jun-2017 and a 52 week low of Rs. 770.15 on 23-Nov-2016.

Last one week high and low of the scrip stood at Rs. 1557.95 and Rs. 1427.35 respectively. The current market cap of the company is Rs. 6452.40 crore.

The promoters holding in the company stood at 54.03%, while Institutions and Non-Institutions held 30.68% and 15.29% respectively.

Bharat Earth Movers (BEML) has signed an agreement with the defence ministry for production of various weapons platforms for the armed forces in 2017-18, setting a revenue target of Rs 3,000 crore for the year. The memorandum of understanding (MoU) outlines targets on various performance parameters for the company during the year.

The defence public sector utility is also planning to take up overhaul and upgrading of battle tanks with a view to assemble and roll out the products.

BEML is a Public Sector Mini Ratna Category-I Company under the Ministry of Defence and the premier manufacturer of Metro Cars. The company is the leading rolling stock supplier in the Country.


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