Rs 11,872 crore order book and FIIs increase stake: Heavy buying witnessed in this multibagger railway and defence stock; gains over 140 per cent!

Shares of the company gained more than 50 per cent in the last six months.

BEML Limited has posted strong Quarterly Results in Q4FY24. The shares of the company gained more than 10 per cent on Monday. The revenue of the company stood at Rs 1513.65 crore which grew by 9.06 per cent YoY. The operating profit of the company stood at Rs 374.99 crore which grew by 22.64 per cent on a YoY basis, while the PAT of the company stood at Rs 256.80 crore, which increased by 62.85 per cent on a YoY basis.

BEML Limited (formerly Bharat Earth Movers Limited) was established in May 1964 as a Public Sector Undertaking for manufacture of Rail Coaches & Spare Parts and Mining Equipment at its Bangalore Complex. Currently, the company operates under three major Business verticals viz., Mining & Construction, Defence, and Rail & Metro.

The three verticals are serviced by nine manufacturing units located at Bangalore, Kolar Gold Fields (KGF), Mysore, Palakkad, and Subsidiary - Vignyan Industries Ltd, in Chikmagalur District. FIIs increased their stake in the company in March 2024. The company has an order book of Rs 11,872 crore.

The shares of BEML Limited have also delivered multibagger returns to its shareholders in the last one year. During this period, the company's share price surged from Rs 1413.80 on May 15, 2023, to Rs 3580.00 on May 13, 2024, representing an increase of about 140 per cent in a one-year holding period.

The stock has shown impressive growth, and investors should keep a close eye on this stock.   

Disclaimer: The article is for informational purposes only and not investment advice.