BEML shares surge 13% after Q4 results impress
BEML shares surged 13% on BSE to Rs 3,636 as it reported a 62% YoY profit increase for Q4FY24, reaching Rs 256.8 crore, alongside a revenue rise and dividend declaration.
of BEML zoomed 13% today on to the day’s high of Rs 3,636 after the company reported a of Rs 256.8 crore for the quarter ended March 2024, a 62% year-on-year (YoY) jump from Rs 157.7 crore posted a year ago.BEML’s from operations stood at Rs 1,513.65 crore for the fourth quarter, a 9% increase from Rs 1,387.94 crore reported in the same period last year.
The board of directors had also announced a of Rs 15.50 per share.
The total order book of the company stood at Rs 11,872 crore as of 31st March 2024, out of which, orders worth Rs 3,301 crore are to be executed in FY25.
BEML stock has gained 63% in the past 6 months and increased by nearly 27.5% so far in this calendar year.
On the technical side, the stock is performing very well above its significant exponential moving averages and stands at a mid-range of nearly 40 on the RSI, as per Trendlyne data.
The mid-range on the RSI is denoted by the levels between 30 and 70. Below 30, the stock is considered to be in the oversold territory, while above 70, it is said to be an overbought zone.
As of March 2024, nearly 46% of BEML’s shareholding rests in the hands of the public while the remaining 54% is with the government of India.
BEML was formerly known as . It is an Indian public sector undertaking under the control of the and manufactures a variety of heavy equipment, such as that used for earth moving, railways, transport and mining. is Asia's second-largest manufacturer of earth-moving equipment.
Also read:
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of )
Source: Stocks-Markets-Economic Times
