Rs 11,872 crore order book and FIIs increase stake: Heavy buying witnessed in this multibagger railway and defence stock; hits fresh 52-week high!

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

Shares of BEML Limited gained more than 8 per cent on Friday. The stock also made a new 52-week high On Friday. The stock has witnessed heavy buying activity from investors in the last few days. BEML is an established player with a wide range of products in the mining and construction, defence and aerospace, and rail and metro segments. The company is almost 60 years old and has been supplying its products and services to reputed clients including Coal India Limited, the Ministry of Defence, and various metro rail corporation among others.

Recently, BEML Limited secured a significant order worth Rs. 250 crores from Northern Coal Fields Limited (NCL) for supplying 28 units of BH100 rear dump trucks. These heavy-duty trucks are designed to efficiently handle overburden and coal in mining operations. This win strengthens BEML's position as a key supplier of mining equipment in India.

BEML Limited has posted strong Quarterly Results in Q4FY24. 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. 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, a return of about 210 per cent.

BEML Limited is targeting significant growth in the coming years. Their order book is expected to jump from Rs 11,872 crore to Rs 20,000-30,000 crore by FY25. 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 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.