BEML receives order worth Rs. 3,015 crore, stock surges

BEML a miniratna company which manufactures rail coaches and spares, and mining equipment has bagged order DMRC for the supply of 378 metro coaches (63 metro trains) to Mumbai Metro Line - 2 and 7 projects. 

This order is worth Rs. 3015 crore which includes design, manufacture, supply, testing & commissioning of 378 metro coaches, the supply of spares and training of personnel, informed the company’s filing to exchange. Further, the company stated that the train deliveries are scheduled to commence from Jul 2020 until Sep 2022. 

In the recently concluded quarter (Q2FY19), the company had reported stellar net profit growth of almost 66 per cent to Rs. 16.89 crore compared to the same quarter of the previous fiscal. 

With response to this positive development, the stock of BEML surged on the bourses. The stock on Monday opened gap-up at Rs. 771 apiece as against Rs. 750.4. BEML later cooled off and at 11.26 hours, the stock was trading at Rs. 762.6 apiece, up by almost 1.6 per cent from its previous close.