BEML slides

BEML declined 1.69% to Rs 790.50 at 14:17 IST on BSE, even as the company bagged a contract worth Rs 31 crore from Indian railways for stainless steel electric multiple unit coaches.

Meanwhile, the BSE Sensex was down 48.88 points, or 0.33%, to 14,896.09. The market slipped today, 9 September 2008, tracking weaker Asian stocks that dropped on uncertainty over the health of the global economy. On BSE 2,283 shares were traded in the counter. The stock had an average daily volume of 13,214 shares in the past one quarter. The stock hit a high of Rs 800 and a low of Rs 784.50 so far during the day. The stock has a 52-week high of Rs 1849.95 on 5 December 2007 and a 52-week low of Rs 600 on 16 July 2008. The mid-cap stock had outperformed the market over the past one month till 8 September 2008, rising 10.56% as compared to the Sensex’s decline of 1.47%. It had underperformed the market in the past one quarter, declining 21.94% as compared to the Sensex’s decline of 4.03%. The company’s current equity is Rs 41.64. Face value per share is Rs 10. As per reports, the coaches are planned to be delivered within two years. The contract may be further enhanced to Rs 92 crore, reports added. On 15 July 2008, BEML bagged export orders aggregating to Rs 34.50 crore from African countries for supply of equipments. BEML reported a net loss of Rs 17.43 crore in Q1 June 2008 as compared to a net profit of Rs 25.59 crore in Q1 June 2007. Net sales fell 26.8% to Rs 287.92 crore in Q1 June 2008 over Q1 June 2007. BEML earlier known as Bharat Earth Movers is engaged in manufacturing mining and construction equipments, railway rolling stocks, metro and defense equipments and aggregates. The products include bulldozers, shovels, excavators, dumpers, railway and transway passenger coaches.