BEML Wins Order Worth Nearly Rs 1,900 Crore For Supply Of LHB Coaches
The stock settled 0.92% lower at Rs 3,917.20 apiece on the NSE
BEML Ltd. bagged an order worth Rs 1,888 crore on Tuesday for LHB coaches. The order is from the Integral Coach Factory, according to the exchange filling.
The order includes manufacturing, supply, testing and commissioning of complete and fully functioning LHB coaches.
The order comes a day after BEML announced its first quarter earnings. The company's net loss narrowed to Rs 64.1 crore in comparison to Rs 70.5 crore loss in the same quarter of the previous fiscal. The revenue for the quarter ended June was flat at Rs 634 crore, while the Ebitda loss for the quarter stood at Rs 49.3 crore.
BEML last week received an order to supply high mobility vehicles valued at Rs 282 crore to the Ministry Of Defence. The company last month had also received an order worth Rs 293.8 crore for supply of high mobility vehicles with a 6x6 configuration. The HMV 6x6 is an all-terrain transport vehicle designed for personnel movement and was intended for general service roles in the Indian Army.
The stock settled 0.92% lower at Rs 3,917.20 apiece on the NSE, compared to a 0.40% decline in the benchmark Nifty 50. BEML's shares have fallen 3.46% in the last 12 months and 3.72% year-to-date.
Out of 19 analysts tracking the company, eight maintain a 'buy' rating, three recommend a 'hold' and eight suggest 'sell', according to Bloomberg data. The average 12-month consensus price target of Rs 221.63 implies a downside of 0.6%.
