BEML has bagged a order from Ministry of Defence for supply of 330 High Mobility Vehicles, for Pinaka project at a value of Rs 842 crore.
Pinaka is a multi-barrel rocket launcher developed indigenously for the Indian Army and produced in India by involving Public Sector and Private Sector Defence Industries. The equipment will be manufactured by BEML at its Palakkad Plant in Kerala and would supply the vehicle platform to MoD in a span of 3 years.
The multi-barrel launcher system is mounted on the highly rugged BEML truck, much acclaimed for its off-road mobility and would provide the Indian Army with vital manoeuvrability on the battlefield.
The announcement was made after market hours yesterday, 31 August 2020. Shares of BEML fell 5.91% to settle at Rs 669.20 yesterday.
State-run BEML operates in three verticals viz. defence & aerospace, mining & construction and rail & metro.
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