BEML Weighs Chhattisgarh Plant For Mining And Infrastructure Equipment

State-owned BEML Ltd. is exploring the possibility of setting up a manufacturing facility in Chhattisgarh, focusing on producing high-performance dump trucks, water sprinklers and motor graders to meet rising demand in the mining and infrastructure sectors.

At an Investor Connect event on Wednesday, Chhattisgarh Chief Minister Vishnu Deo Sai formally invited BEML to invest in the state, presenting an official "Invitation to Invest" to company officials. The chief minister also met BEML Managing Director Shantanu Roy, reaffirming the state's commitment to fostering industrial development.

Speaking to NDTV Profit on the sidelines of Aero India 2025, Roy had recently also highlighted ongoing restructuring efforts at BEML, noting that the company has been reorganised into 11 strategic business units and two micro strategic business units, focusing on maritime and special economic zones.

"A 12th strategic unit was established to support rail and metro projects in response to increasing orders in this sector," Roy said.

Over the past 18 months, BEML has focused on expanding its order book and reducing reliance on foreign original equipment manufacturers, he added.

Roy also noted that the first trial of India's bullet train, a multi-agency collaboration, is expected by early 2027.

Shares of BEML settled 0.76% lower at Rs 2,760.40 apiece on the NSE, compared to a 0.77% decline in the benchmark NSE Nifty 50 on Wednesday. Year-to-date, the stock has fallen 34.16%, whereas the fall has been comparatively muted at 11.26% in the past 12 months.

Four analysts tracking the company have a 'buy' rating on the stock, according to Bloomberg data. The average 12-month analyst price target of Rs 3,853.33 implies a potential upside of 39.6%.

(With inputs from PTI)