BEML rises on plans to establish assembling unit for mining equipment in Indonesia

14 Dec 2011

BEML is currently trading at Rs. 481.05, up by 0.95 points or 0.20% from its previous closing of Rs. 480.10 on the BSE.

The scrip opened at Rs. 484.35 and has touched a high and low of Rs. 489.50 and Rs. 477.30 respectively. So far 4,643 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 1058.00 on 03-Jan-2011 and a 52 week low of Rs. 413.00 on 19-Aug-2011.

Last one week high and low of the scrip stood at Rs. 519.95 and Rs. 477.30 respectively. The current market cap of the company is Rs. 2,003.00 crore.

The promoters holding in the company stood at 54.03% while Institutions and Non-Institutions held 34.92% and 11.05% respectively.

BEML, the premier public sector company under the Ministry of Defense is planning to establish an assembling unit for mining equipment in Indonesia. So far, the company has supplied items to 20 units in Indonesia. Once the number touches 100, the company will set up an assembling facility there - for dumpers, dozers, excavators and others and is expected to touch 100 units next year.

In another development, the Bangalore-based public sector undertaking is looking at hiving off its rail business into a new subsidiary. BEML is the only Indian company rolling out metro rail cars. It is supplying rolling stocks for Delhi Metro and Bangalore Metro and is negotiating for orders from other metro rail projects.

Recently, the company in alliance with Combat Vehicle Research and Development Establishment (CVRDE) set up a technology centre at latter's campus at Avadi, in the Chennai suburbs.

BEML is a Public Sector Undertaking, operates on three major business verticals for associated equipment manufacturing namely mining and construction, defence and rail and metro. It manufactures rail coaches and spare parts and mining equipment at its Bangalore complex.

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