BEML advanced 2.58% to Rs 4,296.05 after the company announced that it has secured a contract worth Rs 3,658 crore from Chennai Metro Rail.
The project involves the design, manufacture, supply, testing, commissioning, personnel training, and a 15-year maintenance contract for standard gauge metro rolling stock (Electrical Multiple Units) and depot machinery & plant valued at around Rs 3,658 crore.BEML is a multi-technology schedule 'A' company under the Ministry of Defence. It operates under three major business verticals: defense & aerospace, mining & construction, and rail & metro. As of 30 September 2024, the Government of India held a 54.03% stake in BEML.
The company's consolidated net profit declined 1.47% to Rs 51.03 crore on a 6.21% fall in sales to Rs 859.84 crore in Q2 FY25 as compared with Q2 FY24.
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