Bharat Earth Movers moves up 4.89% at Rs 1515.4

DALAL STREET SPIKES

The stock of Bharat Earth Movers ended the day with a 4.89 per cent increase to Rs 1515.4, after it touched a 52-week high of Rs 1571 earlier in the day. The stock saw continued buying interest, with volumes touching close to one lakh shares.

The company's equipments find wide use in granite and marble industry in Udaipur, Katni, Salem, Hospet and Ongole. It announced that it is aggressively following diversification strategy to enter contract mining with underground mining equipment.

It is aiming to achieve a turnover of over Rs 2,200 crore in FY06 and Rs 5,000 crore in FY14. It is also planning new products for the defense sector and has implemented Euro-2 emission norms in manufacture and roll out of BEML-Tatra vehicles.