Shares of BEML Ltd surged 4% on Friday after the company announced securing a significant contract from Bengaluru Metro Rail Corporation Limited (BMRCL). As of 9:28 AM, the shares were trading 3.17% higher at Rs 3,239.90.
The contract, valued at approximately ₹405 crore, involves the design, manufacture, supply, installation, testing, and commissioning of standard gauge metro cars. Additionally, BEML will provide training to personnel and comprehensive maintenance for up to 15 years as part of the Bengaluru Metro Rail Project.
This development marks a crucial milestone for BEML, reinforcing its stronghold in the metro rail segment. The deal aligns with the company’s business strategy, focusing on expanding its footprint in urban transportation solutions. Investors responded positively to the announcement, driving BEML’s stock price higher on the exchanges.
BEML shares witnessed volatility on Friday, opening at ₹3,199.80 and reaching a high of ₹3,277.90 before dipping to ₹3,165.80. The stock remains significantly below its 52-week high of ₹5,488 but above its 52-week low of ₹2,350.
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