BEML share price jumped 2 percent intraday on March 13 after the company signed multiple Memorandum of Understanding (MoU).
At 11:58am, BEML was quoting at Rs 2,556.70, up Rs 68.00, or 2.73 percent, on the BSE.
The company has signed a non-binding Memorandum of Understanding (MoU) with Siemens India to jointly explore opportunities in the semi-high-speed and suburban passenger train segments, as well as metro and commuter rail markets.
Also, the company and Dragflow S.R.L., Italy Forge signed an MOU to strengthen indigenous dredging solutions.
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On February 11, the company signed a strategic partnership with STX Engine, a renowned South Korean company, to co-develop, manufacture, and market Battle Tank engines, marine engines, spares, and engine aggregates.
The agreement also includes servicing and maintenance of engine components to cater to Indian defence needs while exploring export opportunities to friendly nations.
Prabhudas Lilladher in its research report dated March 10, maintained ‘accumulate’ rating on BEML with a revised target price of Rs 3,561 (Rs 4,332 earlier).
The share touched a 52-week high of Rs 5,489.15 and a 52-week low of Rs 2,346.35 on 05 July, 2024 and 03 March, 2025, respectively.
Currently, the stock is trading 53.42 percent below its 52-week high and 8.96 percent above its 52-week low.
The market capitalisation of the company stands at Rs 10,647.25 crore.
The share price fall more than 42 percent in last three months.
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