BEML Bags Rs 557 Crore For Supply of De-Mine Equipment; Stock Gains Over 2%

BEML shares strengthened by more than 2 per cent on the BSE after the company received a Rs 557 crore order from the Ministry of Defence (MoD) for the supply of 1,512 Track Width Mine Plough (TWMP) for T-90 S/SK tanks. These mine ploughs (de-mine equipment) will be fitted on T-90 tanks of Indian Armoured Corps, to facilitate their mobility in negotiating mine fields. The shares of BEML touched an intra-day huigh of Rs 664.65, up 2.2 per cent, in early trading on the back of this announcement. At 10:30 am, the shares of BEML were trading at Rs 658.35, higher by 1.3 per cent, on the BSE.

BEML will supply 100 TWMPs within 12 months, 250 in subsequent years and order will be completed within 7 years, the company said in the regulatory filing.

"We are proud to be associated with MoD to enhance the combat capability of Indian Army. This is another example of BEML's capability to meet the specific requirements of our armed forces. BEML signifies the true spirit of 'Make in India' and enabler for 'Atmanirbhar Bharat'," Dr Deepak Kumar Hota, CMD, BEML Limited, said.