BEML share price advanced 5.07% to Rs 4,874.80 apiece on Monday. The gains came after the US' attack on the key nuclear sites in Iran that shifted focus to the defence sector, raising hopes of higher order inflows as the tensions in Middle East rise.
BEML Ltd.'s share price has surged 13% in the last two session. The share price has been steadily gaining since Friday.
BEML is also the top contributor to the NSE Nifty India Defence index in Monday's session.
The NSE Nifty India Defence is the second top performing sector on the National Stock Exchange as of 2:13 p.m.
BEML was trading 4.31% higher at Rs 4,839.30 apiece as of 2:14 p.m., as compared to a 0.40% decline in the NSE Nifty 50 index.
In 12 months, BEML share price advanced 7.54%, while it gained 18.71% on a year-to-date basis. Total traded volume so far in the day stood at 2.3 times its 30-day average. The relative strength index was at 74, which implied the stock is oversold.
Out of four analysts tracking the company, three maintain a 'buy' rating, and one recommends a 'hold', according to Bloomberg data. The average 12-month consensus price target implies an upside of 10.2%.
About BEML
BEML is engaged in manufacturing a wide range of heavy earthmoving equipment for mining and construction industry. It also manufactures vehicles for defence forces and coaches for metro and Indian Railways.
In financial year 2025, BEML missed guidance due to delayed execution of rail and metro orders. The company's orderbook stood at Rs 14,000 crore in May.
Its net profit for the year was at Rs 293 crore compared to Rs 284 in the previous financial year. Revenue was at Rs 4,054 crore compared to Rs 4,022 crore.
BEML management has now guided for 20% year-on-year growth in revenue for the current financial year. It sees margin improving 150 basis points on working capital reduction.
BEML is also expecting that order book to double, led by large tender orders.
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