BEML Ltd.’s stock rose by 2% after announcing a strategic collaboration with Mazagon Dock Shipbuilders Ltd. (MDL) to jointly develop advanced marine technologies.
The Memorandum of Understanding (MoU) was signed at BEML’s Delhi office, with key officials, including BEML CMD Shantanu Roy and MDL Director (Shipbuilding) Sanjeev Singhal, in attendance.
In the exchange filing, the company shared, “By combining BEML’s proven engineering expertise with MDL’s shipbuilding knowledge, this partnership aims to capitalise on opportunities in the marine sector and contribute to India’s vision of Aatmanirbhar Bharat and technological self-reliance in critical defence technologies.”
As of 10:24 am, BEML shares were trading 2.31% higher at Rs 4,108.05 on the NSE.
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