BEML shares surge over 4% on Rs 385 crore order win

BEML shares surged 4.2% after the company secured a Rs 385 crore order from Bharat Dynamics and Bharat Electronics for the supply of High Mobility Vehicles. The stock has risen 7% year-to-date and 28% in the last year, delivering over 150% returns to investors in the last three years. Analysts have an average target price of Rs 1,898, implying a potential upside of 17%. In Q4 FY23, BEML reported an 18% increase in profit and a decline in consolidated revenue from operations. The government of India holds 54.03% of the company’s shareholding.