BEML signs pact with US Based Company

BEML and the US-based Lockheed Martin Aeronautics Company signed a ‘Certificate of Partnership’ at Bengaluru on Friday.

The ongoing AERO India 2019 which is being held at Bengaluru witnessed the PSU and the US based company collaborate to delve into manufacturing of support equipment opportunities in aerospace.

Post the news, the shares of BEML rose 4 per cent on Friday closing at Rs 817 per share on the BSE.

BEML Limited is engaged in the manufacture of rail coaches and spare parts, and mining equipment. The Company offers Bulldozer, Excavator, Motor Grader, Wheel Loader, Dump Trucks, Railway Coaches, Rail Wagons, Metro Cars and Defense equipment. The Company's segments are Mining & Construction Business, Defence Business and Rail & Metro Business.

Lockheed Martin Corporation is an American global aerospace, defense, security and advanced technologies company with worldwide interests.

The shares on Friday closed at Rs 817 up by 4 per cent. Reached an intraday high of Rs. 822 and an intraday low of Rs 795 per share on the BSE. Its 52-week high stood at Rs 1,418.05 and 52-week low was at 521 per share on the BSE.