BEML announced that Suraj Prakash has ceased to be Director (Finance) with effect from 09 April 2021 consequent to his resignation from the services.

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BEML has received export orders from Cameroon and Bangladesh under Government of India - Lines of credit.

The order for Cameroon has been received from Ministry of Economy, Planning & Regional Development (MOEPRD), Government of Cameroon for supply of 71 units of construction equipment consisting of Bulldozers, Excavators, Wheel Loaders, Motor graders and Compactors for their Cassava Farm Project.

The order for Bangladesh has been received from Ministry of Roads & Highways Department, Government of Bangladesh for supply of construction equipment consisting of Wheel Dozer for their construction, Repair and Maintenance of Road and Infrastructure projects in Bangladesh.

Valuing at around USD 23 Million, these equipment will be having more than 90% indigenous content and will be manufactured at BEML's KGF and Mysore plants in Karnataka signifying the true spirit of 'Atmanirbhar Bharat' with thrust on going global.

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Saregama India Ltd, IRB Infrastructure Developers Ltd, Hindustan Oil Exploration Company Ltd and Indian Overseas Bank are among the other gainers in the BSE's 'A' group today, 08 March 2021.

BEML Ltd surged 19.03% to Rs 1394.9 at 11:48 IST. The stock was the biggest gainer in the BSE's 'A' group. On the BSE, 2.62 lakh shares were traded on the counter so far as against the average daily volumes of 75957 shares in the past one month.

Saregama India Ltd soared 14.50% to Rs 1404.1. The stock was the second biggest gainer in 'A' group. On the BSE, 41173 shares were traded on the counter so far as against the average daily volumes of 5003 shares in the past one month.

IRB Infrastructure Developers Ltd spiked 13.57% to Rs 128.5. The stock was the third biggest gainer in 'A' group. On the BSE, 4.68 lakh shares were traded on the counter so far as against the average daily volumes of 67797 shares in the past one month.

Hindustan Oil Exploration Company Ltd exploded 10.37% to Rs 112.25. The stock was the fourth biggest gainer in 'A' group. On the BSE, 5.28 lakh shares were traded on the counter so far as against the average daily volumes of 1.08 lakh shares in the past one month.

Indian Overseas Bank rose 10.00% to Rs 17.6. The stock was the fifth biggest gainer in 'A' group. On the BSE, 48.9 lakh shares were traded on the counter so far as against the average daily volumes of 62.31 lakh shares in the past one month.

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The scrip extended gains for second day. The stock has added 1.82% in two sessions.

In the past three months, the stock has added 60.10% while the benchmark Sensex has added 11.75% during the same period.

On the technical front, the stock's RSI (relative strength index) stood at 71.702. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.

The stock was trading above its 50-day, 100-day and 200-day daily simple moving average (DMA) placed at 987.32, 837.25 and 740.01, respectively.

BEML is a multi-technology schedule 'A' company under the Ministry of Defence. The company operates in three verticals viz. defence & aerospace, mining & construction and rail & metro. As on 31 December 2020, the government held 54.03% stake in BEML.

The company's consolidated net profit surged to Rs 27.67 crore in Q3 FY21 from Rs 4.24 crore in Q3 FY20. Net sales during the quarter rose 5.10% YoY to Rs 728.21 crore.

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