BEML trades higher on receiving export orders worth USD 23 million

The shares of Bharat Earth Movers Limited (BEML) were trading in the green on Wednesday after the company announced that it has received export orders to the tune of US$ 23 million from Cameroon and Bangladesh. 

The order relating to Cameroon has been received from the Ministry of Economy, Planning & Regional Development of the Government of Cameroon. It entails the supply of 71 units of construction equipment consisting of bulldozers, excavators, wheel loaders, motor graders and compactors for Cassava Farm Project in the country. 

The second order for Bangladesh was received from the Ministry of Roads & Highways Department of the Government of Bangladesh for the supply of construction equipment for the construction, repair and maintenance of road and infrastructure projects in the country. 

The equipment to be supplied for these orders is valued at around US$ 23 million. The equipment will be having more than 90 per cent indigenous content and would be manufactured at BEML's KGF and Mysuru plants in Karnataka, India. 

At 1.56 pm on Wednesday, the stock of BEML Limited was trading at Rs 1,393.00, up by 1.41 per cent or Rs 19.35 per share, against a 0.49 per cent decline in the benchmark index. The 52-week high of the scrip was recorded at Rs 1,544.25 while its 52-week low is Rs 369.60 on BSE.