BEML finally declined 3.5% to Rs 997.
The counter witnessed volume of 84,105 shares as against its two-week average traded quantity of 161,293.
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(Updated 1254 hrs)
BEML has surged following a 45% rise in Q4 net.
The stock opened at Rs 1,052 and surged 3.5% to touch a high of Rs 1,075. It is now up 2.7% at Rs 1,065. The stock has gained 16% in the last month. Around 39,239 shares have been traded so far on the BSE.
The company informed the BSE through a press release that the net profit has increased 45% to Rs 172 crore for the quarter ended March 31, 2009 as against Rs 118.5 crore in the corresponding quarter a year ago.
The total income is up 16.5% at Rs 1,282.27 crore in Q4FY09 from Rs 1,099.43 crore in Q4FY08. The board has recommended a dividend at 120% on the paid up share capital of the company.
Further, the company has tied up with France-based Alstom for transfer of technology to manufacture light, medium, high-speed and double decker railway coaches.
