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Last Updated : Dec 30, 2019 10:06 AM IST | Source: Moneycontrol.com

BEML rises share price rises 2% on MoU with IRCON International

This MoU is aimed at promoting supply of BEML manufactured rolling stock as well as construction equipment for railway projects outside India wherein IRCON will carry out civil and construction work.

 
 
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BEML share price rose 2.5 percent intraday on December 30 after the company signed a memorandum of understanding (MoU) with IRCON International.

The company signed an MoU with IRCON International to explore and address opportunities in the overseas market by synergizing each other’s strengths for large infrastructure projects in the transportation sector, as per the company's press release.

This MoU is aimed at promoting the supply of BEML manufactured rolling stock as well as construction equipment for railway projects outside India wherein IRCON will carry out civil and construction work as well as facilitate design validation for rolling stock of BEML to address export opportunities together.

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"Both the companies by synergizing their strengths can attain new heights in the International market. Govt of India LoC is huge opportunity for BEML & IRCON to work together," said D K Hota, CMD, BEML.

BEML was quoting at Rs 996.70, up Rs 23.70, or 2.44 percent and Ircon International was quoting at Rs 405.00, up Rs 1.75, or 0.43 percent on the BSE.

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First Published on Dec 30, 2019 10:06 am
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