BEML shares gained more than 2 per cent in a subdued market after the company bagged orders from the Ministry of Defence for supplying high mobility vehicles at an approximate value of Rs 758 crore. At 10:25 am, the shares of BEML were trading at Rs 1,013.50, up 2.10 per cent on the BSE. The shares have touched an intra-day high of Rs 1,040 and a low of Rs 1,001 thus far.
These vehicles will play a key role in the logistics management of the Indian Army, enabling armoured fighting vehicles, troops, ammunitions and stores to be moved to far-flung, difficult terrains in operational areas, the company said in a regulatory filing to the stock exchanges.
The vehicles will be manufactured at BEML's Palakkad plant in Kerala and be supplied to the Indian Army in a span of a year.
The BSE Sensex was trading at 48,419.89, lower by 24.26 points or 0.05 per cent and the NSE Nifty was at 14,198.35, down 1.90 points or 0.01 per cent at the time.