BEML shares: PSU Stock rises amid Motilal Oswal buys stake via block deals
The PSU Stock had seen a sharp surge at the end of the trading session on Thursday, eventually closing 17.3% higher at Rs 3,239 apiece.
Defence PSU Firm, BEML Ltd’s shares are in focus on Friday, March 28, as Motilal Oswal Financial Mutual Fund bought stake in the company via block deals on Thursday, March 27. As per the data release, Motilal Oswal MF bought 2.66 lakh shares of BEML at an average price of Rs 3,048.3 per share.
The PSU Stock had seen a sharp surge at the end of the trading session on Thursday, eventually closing 17.3% higher at Rs 3,239 apiece. The data available on stock exchanges shows, Motilal Oswal did not hold more than 1% stake in BEML, till the end of the December quarter, which may be the reason why its name does not feature in the shareholding pattern.
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In the last month, BEML shares have risen almost 32%. The stock has dropped 12.18% in the previous six months and is down 21.39% this year, so far. According to the December shareholding pattern, Invesco, Kotak Mahindra Bank, HDFC Small Cap Fund, ICICI Prudential are among the other mutual funds that owned 1.83% to 6.15% stake in BEML.
In addition, the company has secured a contract worth Rs 405 crore from the Bengaluru Metro Rail Corporation Ltd. The contract is for the design, manufacture, supply, installation, testing and commissioning of standard gauge metro cars. The contract consists of training of personnel, including comprehensive maintenance of up to 15 years under the Bengaluru Metro Rail Projects.
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