BEML shares gain after ₹867 Crore order win

15 Oct 2024 , 02:29 PM

Shares of Bharat Earth Movers Ltd. (BEML), a state-run corporation, rose on Tuesday, October 15, after the company was awarded a contract for the design, production, and commissioning of two high-speed trainsets, according to an exchange filing.

The two trainsets will have eight cars and cost ₹27.86 Crore per car. The overall order value comprises design costs, one-time development costs, non-recurring charges, and one-time costs for jigs, fixtures, tooling, and testing facilities, which will be used for all future high-speed projects in India.

This will be a key milestone in India’s high-speed rail journey, as it will be the first trainsets built and constructed in India to reach 280 kmph in test mode.

BEML’s Bengaluru rail coach complex will be the platform for these trainsets, which are expected to be delivered by the end of 2026, according to the company. These completely air-conditioned Chair Car trains will have reclining and rotatable seats, unique arrangements for people with limited mobility, and onboard infotainment sessions.

At around 12.47 PM, BEML was trading 0.18% higher at ₹3,734.95 per piece, against the previous close of ₹3,728.15 on NSE. The counter touched an intraday high and low of ₹3,793.70, and ₹3,712, respectively.

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