BEML gains on Rs 523-cr new orders
The company has bagged Rs 450 crore order from Indian railways and Rs 73 crore order from Saudi Arabia.
BEML has rallied 5% to Rs 306 after the state-owned company said that it has received orders worth of Rs 523 crore from the Indian railways and from Saudi Arabia
“The order amounting of Rs 450 crore from Indian railways is for supplying of 600 rail coaches, 72 AC EMU (Alternating Current Electrical Multiple Unit) coaches and 64 MEMU (Mainline Electrical Multiple Unit) coaches,” BEML said in a statement.
The company also bagged Rs 73-crore order from The Kingdom of Saudi Arabia for the supply of dumpers and excavators for its mining segment, it added.
The stock opened at Rs 300 and hit a high of Rs 310 on the BSE. A combined around 48,000 shares have changed hands on the counter in opening deals on both the exchanges.
Source: Business Standard
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