BEML has received variation order to contract 'MRS1' from DMRC, for additional 12 trainsets of 6 cars each (total 72 cars) to operate on line 2B and 7 of Mumbai metro project.
The order is valued at Rs. 501 crore (approx) on equivalent INR basis. With this, the total contract value has increased to Rs 4318 crore (approx) from the existing Rs 3817 crore (approx), all amounts mentioned in equivalent INR, for supplies before August 2023.
The announcement was made on Sunday, 22 November 2020. Shares of BEML rose 0.24% to settle at Rs 655.85 on Friday.
The stock hit a 52-week high of Rs 1,080 on 16 January 2020. The stock hit a 52-week low of Rs 369.6 on 24 March 2020.
State-run BEML operates in three verticals viz. defence & aerospace, mining & construction and rail & metro. As of 30 September 2020, the Government of India holds 54.03% stake in BEML.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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