BEML Ltd. received an order worth Rs 293.8 crore from the Ministry of Defence for supply of high mobility vehicle with 6X6 configuration, according to an exchange filing on Wednesday.
The HMV 6×6 is used for general service roles in the Indian Army. This is an all-terrain vehicle intended for transport for personnel, according to the BEML website.
On Monday, the board of BEML approved a plan to split its shares. It will split an existing fully paid-up equity share of face value of Rs 10 into two paid-up equity shares of face value of Rs 5 each.
On July 18, the public sector undertaking bagged an order for Rs 185.7 crore from the Ministry of Defence for the supply of bulldozers.
Shares of BEML closed 1.36% lower at Rs 4,285.7 apiece on the NSE, compared to a 0.63% rise in the benchmark Nifty. The stock has fallen 7.23% in the last 12 months but risen 5.33% on a year-to-date basis.
Out of the four analysts tracking the company, three have a 'buy' rating on the stock and one recommends 'hold', according to Bloomberg data. The average of 12-month analysts' price targets implies a potential upside of 2%.
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