Stock Market

BEML jumps 4% on Bengaluru Metro order win

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NEW DELHI: Shares of BEML jumped nearly 4 per cent in morning trade on Wednesday after bagging contract for Bengaluru Metro.

"BEML received a contract for 7 Metro train sets of 6 cars configuration to augment the metro services in Bengaluru valued around Rs 400 crores," the company said in a BSE filing. BEML manufactures rail coaches and spare parts and mining equipment at its Bengaluru complex. The company operates under three major business verticals -- mining and construction, defence and rail and metro. The three verticals are serviced by nine manufacturing units located at Bengaluru, Kolar Gold Fields (KGF), Mysore, Palakkad and Subsidiary - Vignyan Industries, in Chikmagalur District. Shares of BEML traded 2.87 per cent up at Rs 847.50 on BSE around 11:15 am.

(With inputs from PTI)




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