BEML shares in focus after bagging 2 work orders worth $6.23 million
The state-run defense and heavy equipment manufacturer announced that it has received one order from the Commonwealth of Independent States (CIS) region for the supply of heavy-duty bulldozers, as well as a maiden order from Uzbekistan for the supply of high-performance motor graders.
“Pursuant to Regulation 30 read with Schedule III of SEBI (LODR) Regulations, 2015, we hereby inform that BEML Limited has bagged 2 separate export order, One order from Commonwealth of Independent States (CIS) region, for supply of Heavy Duty Bulldozers and Second order from Uzebekistan (Maiden Order) for Supply of High performance Motor Grader. Total contract value of USD. 6.23 Million approximately,” the company said in its filing to the stock exchanges.
These orders fall under the company’s normal course of business, as informed by the company.
BEML share price performance
Over the past 1 year, the stock of BEML has declined by 2.84%. However, it has shown a positive trajectory in recent months, gaining 9.73% year-to-date (YTD), 9.28% over the last 6 months, and 53.23% in the past 3 months. In the most recent 1-month period, the stock rose by 3.40%.
On Friday, BEML shares ended 1.6% lower at Rs 4,521.90 on the BSE.
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BEML shares technical placement
BEML shares are currently well placed above all their significant short, medium and long-term daily exponential moving averages (DEMA), according to Trendlyne data. The same are oscillating near the 60 mark on the RSI.
An RSI below 30 is considered oversold, and above 70 is considered overbought.
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