Rs 11,453 Crore Order Book: President of India-Backed Rail & Metro Manufacturer’s Stock Jumps 7.92 Per Cent on May 16
The stock is up by 57 per cent from its 52-week low of Rs 2,346.35 per share and has been maintaining a healthy dividend payout of 30 per cent.
On Friday, shares of BEML Ltd jumped 7.92 per cent to Rs 3,659.15 per share from its previous closing of Rs 3,390.75 per share. The stock’s 52-week high is Rs 5,489.15 and its 52-week low is Rs 2,346.35. The shares of the company saw a spurt in volume by more than 4 times on the BSE.
BEML Limited is a leading multi-technology ‘Schedule A’ company under the Ministry of Defence, which plays a pivotal role in serving India’s core sectors like defence, rail, power, mining and construction by offering world-class products. BEML operates in three verticals viz. defence & aerospace, mining & construction and rail & metro and has state-of-the-art manufacturing facilities located at Bangalore, Kolar Gold Fields (KGF), Mysore, Palakkad, with very strong R&D infrastructure and a nationwide network of sales and services. BEML Limited, a committed player in the field of manufacturing earthmoving, transportation and construction equipment, celebrates a rich legacy spanning six decades of relentless pursuit of excellence and innovation.
BEML Ltd has secured land in two significant locations for expanding its manufacturing capabilities. The Government of Madhya Pradesh has approved the allotment of 60.063 hectares (approximately 148 acres) in Umeria, Raisen district. This land will be utilised to establish a construction facility dedicated to the manufacture of rolling stock and coaches for both railway and metro projects within the state. This acquisition underscores BEML's commitment to supporting the development of transportation infrastructure in Madhya Pradesh.
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Furthermore, BEML has also received approval from the Chhattisgarh cabinet for the allotment of 100 acres of land in the Janjgir-Champa district. This land has been allocated at a nominal cost of Re. 1 per acre and will be used to set up a state-of-the-art manufacturing plant for Heavy Earth Moving Equipment. This strategic move will enable BEML to enhance its production capacity in this crucial sector and contribute to industrial growth in Chhattisgarh.
The company has a market cap of over Rs 15,000 crore and as of September 30, 2024, the company’s order book stands at Rs 11,453 crore. The stock is up by 57 per cent from its 52-week low of Rs 2,346.35 per share and has been maintaining a healthy dividend payout of 30 per cent.
Disclaimer: The article is for informational purposes only and not investment advice.