BEML Surges as Q4 Net Jumps Over Two Folds

BEML shares surged as much as 11 per cent to hit intraday high of Rs 1,152 after the state run commercial vehicles company reported that its March quarter net profit rose 164 per cent or over two-fold to Rs 169 crore.

BEML posted net profit of Rs 64 crore during the same quarter last year and during the previous quarter of FY15 company had reported a loss of Rs 11.42 crore.

BEML's net sales advanced 64 per cent to Rs 1,279.30 crore from Rs 779.6 crore year on year.

Reacting to this news, shares of BEML came in high demand as 1,75,000 shares changed hands on the Bombay Stock Exchange compared to average of 61,000 shares traded daily in the past two weeks. At 11:00 a.m., the shares in BEML traded 6.3 per cent higher at Rs 1,102.