BEML secures order worth Rs 758 crore from Ministry of Defence; stock ends almost flat
The shares of BEML were trading up by almost 5 per cent during the early trading session on Wednesday after the defence equipment manufacturer announced that it has secured orders from the Ministry of Defence (MoD).
The above-mentioned orders are for the supply of high mobility vehicles at a total consideration of Rs 758 crore.
BEML’s Palakkad plant in Kerala would be used to supply the vehicles to the Indian Army within a span of one year, the company stated in its press release to BSE.
It added that the equipment to be supplied to the Indian Army would play a key role in the logistics management by leveraging on its exceptional cross-country capabilities. The equipment supplied would enable armoured fighting vehicles, troops, ammunitions & stores to be moved to the far-flung, difficult terrains in the operational areas.
By market close, the stock pared its gains and closed at Rs 991.85 per share, down by 0.08 per cent or Rs 0.80 per share on BSE. Its 52-week high is Rs 1,080 while the 52-week low is Rs 369.60 on BSE.