BEML moves higher on bagging Jaipur Metro order worth Rs 318 crore

BEML is currently trading at Rs. 461.25, up by 1.50 points or 0.33% from its previous closing of Rs. 459.75 on the BSE.

The scrip opened at Rs. 470.00 and has touched a high and low of Rs. 472.30 and Rs. 452.15 respectively. So far 9447 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 1058.00 on 03-Jan-2011 and a 52 week low of Rs. 413.00 on 19-Aug-2011.

Last one week high and low of the scrip stood at Rs. 489.50 and Rs. 445.10 respectively. The current market cap of the company is Rs. 1914.61 crore.

The promoters holding in the company stood at 54.03% while Institutions and Non-Institutions held 34.92% and 11.05% respectively.

BEML, the premier public sector company under the Ministry of Defence, has bagged the prestigious Jaipur Metro order worth Rs 318 crore. By this order, BEML will manufacture, supply, test and commission 10 train sets of 4-car each, totaling 40 cars to Jaipur Metro Project. It is anticipated that another Rs 60 crore worth order may be forthcoming for Jaipur Metro.

BEML is the supplier of metro cars to Delhi Metro Rail Corporation (DMRCL) and Bangalore Metro Rail Corporation (BMRCL) and now Jaipur Metro. BEML has also, by virtue of its domain expertise in the manufacture of metro cars, has indigenously designed, developed and supplied intermediate metro cars to Delhi Metro to replace the existing 4-car sets to 6-car sets and thereby enhancing the passenger-carrying capacity. Besides, BEML is in the process of designing and developing affordable metro cars to suit the upcoming metro projects for TIER-II cities.

As its major business verticals, BEML is manufacturing and supplying equipment to Defence & Aerospace, Rail & Metro and Mining & Construction sectors. Besides, BEML is also into the business of e-Engineering, Trading and Dredging. The company is having an order book of over Rs 6,000 crore. Further, the company is set to achieve a turnover of Rs 4,300 crore for the current financial year and to achieve Rs 5,000 crore in 2013-14 to coincide with company's golden jubilee year.

BEML is a Public Sector Undertaking, operates on three major business verticals for associated equipment manufacturing namely mining and construction, defence and rail and metro. It manufactures rail coaches and spare parts and mining equipment at its Bangalore complex.