BEML jumps on partnering with BEL to develop indigenous train control management system
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BEML is currently trading at Rs. 3339.00, up by 33.20 points or 1.00% from its previous closing of Rs. 3305.80 on the BSE.
The scrip opened at Rs. 3319.00 and has touched a high and low of Rs. 3390.00 and Rs. 3317.00 respectively. So far 17325 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 4139.40 on 02-Feb-2024 and a 52 week low of Rs. 1184.00 on 25-Apr-2023.
Last one week high and low of the scrip stood at Rs. 3390.00 and Rs. 3200.00 respectively. The current market cap of the company is Rs. 13907.81 crore.
The promoters holding in the company stood at 54.03%, while Institutions and Non-Institutions held 28.09% and 17.88% respectively.
BEML and Bharat Electronics (BEL) have signed a Memorandum of Understanding (MoU) to jointly develop an indigenous Train Control Management System (i-TCMS). Currently, Train Control Management Systems (TCMS) are predominantly supplied by propulsion suppliers, leading to dependency on imported technology.
The primary objective of this partnership is to identify potential areas of cooperation between BEML and BEL, with a focus on exploring the joint development of high-value products and solutions tailored to the requirements of Indian Railways and Metro systems.
BEML a leading mining and construction equipment manufacturer has designed and developed indigenously over 40 products through its R&D, and are not only working in India but also in 65 countries around the world.
