BEML share price jumps 5% after company bags Rs 398 crore order from Coal India
The order is for the supply of seven 150-T dumpers and eight 190-T dumpers under trial cum sale along with eight years spare parts contract on April 24, 2020, the company said
April 27, 2020 / 12:10 PM IST
The share price of Bharat Earth Movers Limited (BEML) jumped 5 percent intraday on April 27 after the company bagged an order worth Rs 398 crore from Coal India.
"We wish to inform that BEML has bagged orders worth Rs 398 crore (inclusive of taxes) from M/s Coal India Limited (CIL), for the supply of seven 150-T dumpers and eight 190-T dumpers under trial cum sale along with eight years spare parts contract on April 24, 2020," the company said in a filing to the exchanges.
BEML and Coal India have signed the contract for executing the above contract at CIL Head Quarters. These dumpers will be deployed at SECL Gevra Project and M/s NCL Amlohri and Nigahi Projects respectively, the company added.
The stock price has surged over 53 percent over the last month and was quoting at Rs 608.40, up Rs 29.10, or 5.02 percent at the time of publishing this article. It has touched an intraday high of Rs 621.50 and an intraday low of Rs 596.65.
It was trading with volumes of 57,564 shares, compared to its five-day average of 52,557 shares, an increase of 9.53 percent.