BEML surges on entering into MoU with SMH Rail
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BEML is currently trading at Rs. 3948.00, up by 101.55 points or 2.64% from its previous closing of Rs. 3846.45 on the BSE.
The scrip opened at Rs. 3946.45 and has touched a high and low of Rs. 3986.30 and Rs. 3912.85 respectively. So far 20300 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 5489.15 on 05-Jul-2024 and a 52 week low of Rs. 1904.50 on 26-Oct-2023.
Last one week high and low of the scrip stood at Rs. 3986.30 and Rs. 3658.15 respectively. The current market cap of the company is Rs. 16427.92 crore.
The promoters holding in the company stood at 54.03%, while Institutions and Non-Institutions held 26.90% and 19.07% respectively.
BEML has entered into a Memorandum of Understanding (MoU) with Malaysia’s largest rolling stock manufacturer, SMH Rail. This strategic partnership marks a historic collaboration between India and Malaysia, aiming to strengthen bilateral relations and address the growing global demand for advanced rail and metro rolling stock. Together, BEML and SMH Rail will focus on marketing, supply, and servicing of rail and metro rolling stock products, with a particular emphasis on markets in Malaysia, Southeast Asia, and Africa.
Under this MoU, BEML and SMH Rail will pool their resources to enhance capabilities in marketing, manufacturing, and maintenance, repair, and overhaul (MRO) services. The collaboration will also involve the joint design, engineering, manufacturing, and integration of rolling stock, tailored to meet client-specific requirements. Additionally, both companies will excel in sourcing rolling stock aggregates and subsystems, formulating winning strategies, and exchanging technology on a mutual basis.
BEML is a Public Sector Undertaking for manufacture of Rail Coaches & Spare Parts and Mining Equipment.
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