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Shares of state-run mini-ratna company BEML Ltd saw a sharp rise on Wednesday. Shares of the company rose 4% to Rs. 2183.95 has been reached. This is a new 52-week high for shares of BEML Ltd. The rise in the shares of the government company has come due to the receipt of large defense orders. BEML shares hit a 52-week low of Rs. is 1129.10.
Order received from Ministry of Defense for supply of command post vehicles
BEML Limited has informed that it has received an order from the Ministry of Defense (Army) to supply command post vehicles. This order is worth Rs 101 crore. Earlier, BEML had on August 7 received from Bengaluru Rail Corporation Limited Rs. 3177 crore order was received. In May 2023, BEML emerged as the lowest bidder to supply 318 coaches for Phase 2, Phase 2A and Phase 2B corridors of Bengaluru Metro.
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BEML’s losses are lower than before
BEML Limited in the June quarter of the current financial year posted Rs. 75.01 crores net loss. In the June quarter of last year, the state-owned company had incurred a loss of Rs 82.36 crore. State-owned BEML Limited manufactures rail coaches, spare parts and mining equipment. BEML is a multi-technology company engaged in manufacturing high quality products for Coal, Mining, Steel, Limestone, Power, Irrigation, Construction, Road Building, Aviation, Defence, Metro and Railways.
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Disclaimer: The information provided here is only about stock performance and does not constitute investment advice. Investing in the stock market is subject to risk and you should consult your advisor before investing.