Page 2 - Beml

Dredging Corp, BEML sign agreement to manufacture dredger spares in India

Dredging Corporation of India Ltd (DCIL) and BEML have entered into an agreement to manufacture dredgers and their spares in India. Dredgers are special vessels used for deepening and broadening sea coasts and river sides by removing sand. In a statement, DCIL said it has signed a memorandum of understanding (MoU) with BEML for the design, development and manufacturing of dredgers and its spare parts. The agreement was signed between DCIL MD and CEO S Divakar and BEML CMD Shantanu Roy in Bengaluru. "The organisations would recognise indigenisation as one of the strategic tools to achieve cost benefits and also complement their strengths to build a mutually beneficial strong technical base," the statement said. The collaboration will extend to the joint study of the potential for the construction of portable cutter suction dredgers for inland dredging by BEML and endeavour for cooperation through joint venture/special purpose vehicles as per the government guidelines. The producti

Own BEML, BEL in your portfolio? Check why they will be in focus today

On Monday, the MoD signed a tripartite MoU with BEML, Bharat Electronics, and Mishra Dhatu Nigam for indigenous development of Advanced Fuelling and Control System for Engines

BEML Q3 results: Profit up marginally at Rs 66.85 cr on higher expenses

The state-owned company reported a consolidated profit before tax of Rs 66.85 crore ($8.1 million) in the quarter ended Dec. 31, up nearly 1% year-on-year

Rajeev Prakash appointed as govt nominee director of BEML's board

State-owned BEML on Tuesday said Rajeev Prakash has been appointed as the Government Nominee Director on its board. Prakash will replace Surendra Prasad Yadav, the company said in a filing. "The President of India has appointed Rajeev Prakash as Government Nominee Director (Part Time Official Director) on the Board of Directors of the company in place of Surendra Prasad Yadav," the filing said. Prakash is a 1995 batch, Indian Post & Telecommunication Accounts and Finance Service officer. He has experience in the field of telecommunications and held various important positions at the Centre. He has been working as Joint Secretary (Naval Systems) in the Department of Defence Production, Ministry of Defence, since June last year. Prakash is not related to the directors of the company. Shares of BEML settled 2.09 per cent higher at Rs 2,500.75 apiece on the BSE.

Tiger Logistics wins order from Bharat Earth Movers; stock leaps 9%

The contract is anticipated to yield revenue of approximately Rs 10 crore

BEML rallies 10% on strong order book position; zooms 94% in 5 months

On August 7, BEML secured Letter of Acceptance from Bangalore Metro Rail Corporation (BMRC) for supply of Rolling stock contract 5RS-DM valued at approximately Rs 3,177 crore

BEML posts smaller Q1 loss as expenses fall, govt spending increases

The push, which included segments such as defence and transport, came ahead of a parliamentary election due in 2024

Stocks to Watch today, Aug 08: Airtel, Max Health, GIC Housing, Sobha, BEML

Stocks to watch on August 08, 2023: Adani Ports, Coal India, Hindalco, Jet Airways, Oil India and Utkarsh SFB are few of the notable companies to announce June quarter earnings on Tuesday.

Land spinoff holds up $232 million BEML privatisation deal: Reports

The Indian government is looking to sell 26% out of the total 54% stake it holds in the company along with a transfer of management control

BEML profit grows 18% YoY to Rs 158 cr in Jan-Mar quarter as expenses dip

Consolidated profit rose to 1.58 billion rupees ($19.12 million) for the three months ended March 31, from 1.33 billion rupees a year earlier

Stocks to Watch today, May 26: Voda Idea, Hind Zinc, RIL, SAIL, Zee, Emami

Stocks to watch on May 26, 2023: BEML, BHEL, Grasim, M&M, ONGC, Shree Renuka Sugars, Sun Pharma and Wockhardt among prominent companies scheduled to announce Q4 results on Friday.

Govt may soon invite financial bids for selling 26% in defence PSU BEML

The government may soon invite financial bids for strategic sale of defence PSU BEML after its non-core business got listed on the bourses last month. In January 2021, the government invited preliminary bids for selling 26 per cent stake in BEML along with the management control. It received multiple expressions of interest (EoIs) for the sale. Following that, in October last year, BEML demerged its non-core businesses into BEML Land Assets and listed the new company on the bourses on April 19, 2023. The listing of land and other non-core assets is complete. Now we will soon invite financial bids for the core assets, which is construction and defence related, an official told PTI. BEML is a diversified company supplying product, services and support to defence & aerospace, mining & construction, and rail & metro for clients within and outside India. The government currently holds 54.03 per cent stake in BEML, which is a public sector undertaking under the defence ...

BEML Land Assets freezes at 5% lower circuit post stock market debut

BEML had incorporated as a wholly owned subsidiary (WOS), namely BEML Land Assets, on July 15, 2021

BEML's demerged non-core businesses entity's listing in one month

The BEML's demerged non-core businesses entity, BEM Land Assets Ltd, is expected to be listed in the next one month, a step toward divestment of the engineering major. The government seeks strategic divestment of 26 per cent post BEML demerger process of non-core assets. "Listing of demerged land company will be in a month's time. The valuation process is on. After listing, disinvestment process will be started," BEML chairman and managing director Amit Banerjee said. He was speaking on the sidelines of CII-organized Global Mining Summit 2022. He told PTI that the main assets of the demerged entity will be some total 550 acre of prime land in Bangalore and Mysore. The existing BEML shareholders have been given shares in the new demerged entity in a 1:1 ratio. State-owned BEML was focusing on defence and the metro railway business. Banerjee also mentioned that BEML, which currently has a 90 per cent localisation rate for defense trucks, in light of the government's outlook on mak

Govt may invite financial bids for BEML privatisation in December quarter

The government is likely to invite financial bids for the privatisation of BEML in the December quarter, an official said. Earlier this month, the corporate affairs ministry approved the demerger of land and non-core assets of BEML to BEML Land Assets Ltd. The official said that every shareholder of BEML will get shares in BEML Land Assets and the process of demerger would be completed by the end of September or early October. "Once the demerger process gets over by September-end or by early October, the financial bids for strategic sale of BEML would be invited," the official told PTI. The financial bids are expected in the October-December quarter and the draft share purchase agreement too would be finalised by then, the official added. In January last year, the government invited preliminary bids for selling 26 per cent stake in BEML along with the management control. Multiple Expressions of Interest (EoIs) were received by the government, after which the process of demerger w

Stocks to Watch: LIC, ONGC, Max Health, Hero Moto, Zee Entertainment, M&M

State-owned insurance behemoth Life Insurance Corporation (LIC) reported a net profit of Rs 682.88 crore in the April-June quarter (Q1) of FY23, driven by its non-par business.

Top Headlines: BEML to list land holding firm, 5G phones at Rs 10k next yr

BEML will soon list its land holding company on the exchanges after receiving the corporate ministry's approval

BEML to list land holding company, clearing way for privatisation

Defence PSU's board will meet on August 18 to finalise a proposal for share allotment

Stocks to Watch: Britannia, GAIL, Reliance, Adani Enterprises, Paytm, Nykaa

Stocks to Watch: With oil prices staging a dramatic reversal, related stocks, along with rate-sensitive sectors will be on the radar as RBI announces its monetary policy outcome Friday.

Stocks to Watch: ONGC, Reliance, Zomato, Adani Wilmar, IndiGo,Vodafone Idea

Stocks to Watch today: Uber has decided to put its entire 7.8 per cent stake in Zomato on the block, according to sources.