BEML share price jumped over four percent on August 21, after the Railway PSU announced a partnership with Malaysia’s largest rolling stock manufacturer, SMH Rail.
BEML stock zoomed 4.07 percent to touch an intraday high of Rs 3918.9 per share on the Bombay Stock Exchange (BSE).
Under the MoU, BEML and SMH Rail will pool their resources to enhance capabilities in marketing, manufacturing, and maintenance, repair, and overhaul (MRO) services.
The collaboration will also involve the joint design, engineering, manufacturing, and integration of rolling stock, tailored to meet client-specific requirements.
Together, BEML and SMH Rail will focus on marketing, supply, and servicing of rail and metro rolling stock products, with a particular emphasis on markets in Malaysia, Southeast Asia, and Africa, the company said in a statement.
Shantanu Roy, Chairman & Managing Director of BEML, stated "This historic collaboration will play a crucial role in meeting the rising global demand for urban mobility solutions, particularly in Malaysia, Southeast Asia, and Africa."
The agreement was formalized in the presence of Tengku Zafrul B Tengku Abdul Aziz – Minister of International Trade and Industry, Malaysia during an event in New Delhi.
Shares of railway PSUs have delivered multibagger returns over government of India's continued thrust on the capex. BEML stock price is no exception to it, with the counter running to become a multibagger in just two years. Shares delivered 151.50 percent returns in the last two years, helping investors reap rich benefits.
In the last three years, it went higher by 257.52 percent, as per BSE data.
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