Reuters
India’s BEML rises on deals with Indian navy, Malaysia’s SMH Rail
Aug 22, 2024 at 5:23 am GMT
<html xmlns=”http://www.w3.org/1999/xhtml”><head><title>BUZZ-India’s BEML rises on deals with Indian navy, Malaysia’s SMH Rail</title></head><body>
** Shares of engineering equipment maker BEML BEML.NS are up nearly 3%
** Co partners with Indian Navy for manufacturing and testing of marine equipment and systems
** It also signed a memorandum of understanding with Malaysia’s largest rolling stock manufacturer SMH Rail for joint manufacturing and repair of rolling stock for rail and metro
** Stock is up 40% YTD but trails behind Bharat Electronics BAJE.NS and Bharat Dynamics BARA.NS which are up 65.5% and 53% respectively
(Reporitng by Nishit Navin)