 "BEML surges on Budget hopes")
Shares of BEML surged 8% to Rs 1,049 on the National Stock Exchange (NSE) on back of heavy volumes ahead of Union Budget 2016 amid hopes of higher capital outlay towards core defensive services, railways and metros.
BEML is the leading manufacturer of heavy earth moving equipment in Asia and an Indian Public Sector Company under the Ministry of Defence, Govt. of India.
The company is engaged in the manufacturing of rail coaches and spare parts, and mining equipment at their Bangalore complex. They play pivotal role and serves India's core sectors like defence, rail, power, mining and infrastructure.
At 02:31 PM, the stock was up 6% at Rs 1,031 on the NSE. The trading volumes on the counter nearly doubled with a combined 521,185 equity shares changed hands on the NSE and BSE so far.
BEML is the leading manufacturer of heavy earth moving equipment in Asia and an Indian Public Sector Company under the Ministry of Defence, Govt. of India.
The company is engaged in the manufacturing of rail coaches and spare parts, and mining equipment at their Bangalore complex. They play pivotal role and serves India's core sectors like defence, rail, power, mining and infrastructure.
At 02:31 PM, the stock was up 6% at Rs 1,031 on the NSE. The trading volumes on the counter nearly doubled with a combined 521,185 equity shares changed hands on the NSE and BSE so far.