BEML rallies over 9% on turnaround in Q4

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Shares of BEML, India's leading defence equipment manufacturer, surges over 9 per cent in early trade on Bombay Stock Exchange (BSE) after posting robust fourth quarter earnings.

The company has reported a Rs 85.35 crore profit for the fourth quarter of financial year 2012-13, against a loss of Rs 13.99 crore in the same period the previous fiscal (2011-12).

Buoyed by earnings, shares of company gained as much as 9.51 per cent to trade at Rs 183.60 a piece on the BSE.

In a similar fashion, shares of the company were trading at 181.85 a piece, up 8.28 per cent on the National Stock Exchange (NSE).

Meanwhile, the broader benchmark Sensex was quoting at 20,146.69, down 0.95 points or 0.00 per cent at 10:18 hours.

Read more about: beml
Story first published: Thursday, May 30, 2013, 13:33 [IST]
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