PSU Stock Surges Over 3% After Company Secures Order Approx. Rs 101 Cr From MOD

The shares of BEML Ltd. on Wednesday hit a new 52-week high of Rs 2,183.95 apiece on BSE as the company secured an order worth Rs 101 crore from the Ministry of Defence (Army) awards order for command post vehicles. BEML is a Midcap PSU Company under Ministry of Defence (MOD).

The company disclosed in its 22 August filing that it had received an order from the Ministry of Defence for the supply of Command Post vehicles, with a contract worth Rs 101 crore.

"Pursuant to Regulation 30 read with Schedule III of SEBI (LODR) Regulation, 2015, we hereby inform that BEML Limited has bagged order from Ministry of Defence (Army) for supply of Command Post Vehicles with contract value of Rs. 101 Crores approximately," the Company's Board said in an exchange filing.

The stock of BEML is currently trading at Rs 2167.95 apiece on BSE, up 3.93% from its previous close. It hit intraday highs and lows of Rs 2183.95 and Rs 2112.45 on BSE at the time of writing. It gained 12.36% in the last 1 week, and 28.55% in the last 1 month. It gained 40.94% in the last 1 year, and 260.85% in the last 3 years.

BEML is a Miniratna Status PSU company that operates in the Construction Vehicle industry. It is a multi-technology firm that produces high-quality goods for a variety of industries, including mining, steel, coal, irrigation, limestone, electricity, building, roads, defense, construction, aviation, metro, and railways.