Rs 11,453 Crore Order Book: President of India-Backed Metro Manufacturer Bags New Order Worth Rs 405 Crore From Bengaluru Metro Rail Corporation
The stock is up by 43.5 per cent from its 52-week low of Rs 2,675.15 per share and has been maintaining a healthy dividend payout of 30 per cent.
BEML Ltd has secured a contract from Bengaluru Metro Rail Corporation Limited (BMRCL) for design, manufacture, supply, installation, testing and commissioning of standard gauge metro cars and training of personnel, including comprehensive maintenance up to fifteen (15) years under Bengaluru Metro Rail Projects. The value of the contract is approximately Rs 405 crore and the same is in the normal course of business.
Earlier, BEML entered into two significant MoUs aimed at expanding its market reach and technological capabilities. Firstly, BEML and Siemens Limited, India, have forged a non-binding agreement to collaboratively explore opportunities in the growing semi-high-speed, suburban passenger train, metro, and commuter rail sectors. Secondly, BEML has partnered with Dragflow S.R.L., Italy, to strengthen indigenous dredging solutions, indicating a strategic focus on diversifying its portfolio beyond rail and into infrastructure development.
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About Bharat Earth Movers Limited (BEML Ltd)
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.
The company has a market cap of over Rs 13,000 crore and as of September 30, 2024, the company’s order book stands at Rs 11,453 crore. The stock is up by 43.5 per cent from its 52-week low of Rs 2,675.15 per share and has been maintaining a healthy dividend payout of 30 per cent. Investors should keep an eye on this Small-Cap PSU stock.
Disclaimer: The article is for informational purposes only and not investment advice.