logo
BEML wins ₹185.65 cr order from govt for 79 indigenous bulldozers

BEML wins ₹185.65 cr order from govt for 79 indigenous bulldozers

State-owned BEML on Friday announced it has bagged a government order worth Rs 185.65 crore for supply of 79 units of bulldozers.
The company has bagged the order from the Ministry of Defence (MoD), BEML said in an exchange filing.
"BEML Ltd secures MoD order worth Rs 185.65 crore for the supply of 79 units of its flagship Power Angling & Tilting (PAT) bulldozers," it said.
The new order follows the company's successful execution of an earlier contract for 66 bulldozers, all of which were delivered well within the stipulated timeline.
"This order reinforces our steadfast commitment to the Government of India's 'Make in India' initiative and our resolve to equip the nation's armed forces with reliable, high-quality, and indigenously developed solutions," Shantanu Roy, Chairman & Managing Director of BEML Ltd, said.
BEML, under the administrative control of the Ministry of Defence, operates in three verticals - construction and mining, rail and metro, and defence and aerospace.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

PM Modi's engagement with the Maldives shows India is playing the long game
PM Modi's engagement with the Maldives shows India is playing the long game

Indian Express

time22 minutes ago

  • Indian Express

PM Modi's engagement with the Maldives shows India is playing the long game

Written by Aditya Gowdara Shivamurthy Prime Minister Narendra Modi was on a state visit to the Maldives from July 25 to 26. The visit comes against the backdrop of the President of the Maldives, Mohamed Muizzu, pushing for a recalibration with India. Driven by economic necessities, India's pragmatic outreach, and China's underwhelming support, he has moderated his 'India Out' policy and rhetoric and toned down his unconditional allegiance to China. Given the backdrop, the visit is a strong symbolic message of Delhi's persistent influence in the country. Besides, it has also laid the ground for New Delhi's long game in the Maldives. By pushing for economic and financial connectivity, especially with the Indian Rupee, and doubling down on political engagement, India is creating new leverage. During PM Modi's visit, both leaders reviewed the entire gamut of relations and agreed to strengthen the multifaceted relationship by implementing the Joint Vision Document. They also inaugurated several India-funded projects, including roads and drainage in Addu city, the Ministry of Defence building, and six High Impact Community Development Projects. India also handed over 72 vehicles for the Maldives National Defence Force, 2 BHISHM Health Cube sets, and 3,300 housing flats. Additionally, they signed four MoUs to further cooperation in pharmacopoeia, meteorology, fisheries, and digitalisation. Most importantly, both countries have signed four agreements on financial and economic connectivity, as the Maldives faces debt distress and declining foreign reserves. As of March 2025, the Maldives has a debt of $9.4 billion, of which nearly 60 per cent is in US Dollars. However, the government continues to struggle with low foreign reserves. Currently, it has a reserve of a mere $850 million, and this year alone, the government will have to service over $600 million, along with maintaining its imports. Next year, it will have to service over $1 billion. Maturing debts, specifically bonds (domestic and external) and Chinese loans, have continued to deplete foreign reserves. China's loans have declined from $613 million in 2021 to $473 million in 2025, and its sovereign guarantees have reduced to $567 million. This has left India as the largest bilateral creditor to the country, especially with loans, currency swaps, and credit lines (LOC) taken under the previous government now maturing. Debts from EXIM India have increased from $15 million in 2021 to $572 million, and the sovereign guarantee is at $608 million. To complicate matters, more than $800 million of Indian loans committed are yet to be disbursed. With a looming economic crisis and increasing Indian debts, India and the Maldives signed an amendatory agreement to close the previous LOC. This will be replaced by a Rupee-denominated LOC worth Rs 4,850 crore (equivalent to $565 million), reducing the Maldives' debt obligations by 40 per cent, from servicing $51 million to $29 million annually, and easing the pressure of depleting US Dollar reserves and overall debts. Another major agreement was the implementation agreement on Unified Payment Interface (UPI). This, together with the RuPay card introduced in October 2024, will boost direct transactions between countries. These developments build on the finalisation of the local currency settlement system. Henceforth, India and the Maldives can now trade and allow tourists, diaspora, and businesses to make cross-border payments in local currencies (Rupees and Rufiyaa) rather than in US Dollars. Both countries also finalised the terms of reference for the India-Maldives Free Trade Agreement (FTA) and formally commenced negotiations on the agreement. With the FTA reducing trade barriers and boosting trade, Indian commodities will become cheaper in the Maldives. India is one of the Maldives' largest trade partners. While their trade is worth $680 million, India exports goods worth $561 million. Earlier, the Maldives would have imported goods from India using US Dollars; they can now do the same with the Indian Rupee, which the Maldives can tap from the currency swap, credit line, and direct transactions. This will help ease pressure on the economy and reduce the outflow of the US Dollar. The FTA will also likely be complemented with a bilateral investment treaty, creating new economic leverage for India. Learning lessons from the past, India also doubled down on its engagements across party lines. During his visit, PM Modi met prominent figures from the ruling party, including those who played a crucial role in the 'India Out' campaign and are close to China. These engagements also included bilateral meetings with the President, the Vice President, and the Speaker of the parliament. Modi also held a meeting with prominent figures from the Jumhooree Party, Maldives National Party, and Maldives Development Alliance. Separate meetings were held with the main Opposition, the Maldivian Democratic Party, and former President Mohamed Nasheed. These engagements underline India's attempts at making relations non-partisan and resilient to turbulent domestic politics. PM Modi's latest visit to the Maldives shows that India is letting bygones be bygones, and is more optimistic about the future. There is confidence that the Maldives will understand that regional security is an issue of mutual interest. However, there are some problems. For India, the Maldives' economic stability remains a major challenge. On its part, Malé will continue to engage with Beijing to seek assistance and investments in order to diversify and not become over-reliant on India. Discussions of loan restructuring with China began in January 2024 and have shown little progress, further nudging Muizzu to engage with the country. India, therefore, should not let its guard down. The writer is an associate fellow with the Strategic Studies Programme's Neighbourhood Studies Initiative

Aditya Infotech GMP robust at 30% ahead of IPO. Should you subscribe?
Aditya Infotech GMP robust at 30% ahead of IPO. Should you subscribe?

Economic Times

time22 minutes ago

  • Economic Times

Aditya Infotech GMP robust at 30% ahead of IPO. Should you subscribe?

The upcoming IPO of Aditya Infotech, known for its CP Plus brand in video surveillance and smart camera systems, is making waves in the grey market. Its shares are trading with a grey market premium (GMP) between Rs 205 and Rs 210 per share, translating to a premium of over 30% above the upper price band of the issue. ADVERTISEMENT This strong premium suggests robust interest from investors even before the public offering opens. The GMP is often seen as an unofficial indicator of investor sentiment and potential listing performance. A 30% premium in the grey market ahead of the IPO indicates that the offering has gained strong traction—possibly due to the company's growing presence in smart security solutions, its diversified portfolio, and its expansive domestic distribution network. The price band for the Aditya Infotech IPO has been set at Rs 640–Rs 675 per share. The IPO seeks to raise a total of Rs 1,300 crore at the upper end of the issue comprises a fresh issue worth Rs 500 crore and an offer for sale (OFS) of Rs 800 crore. The lot size has been fixed at 22 shares, which means retail investors will need a minimum investment of Rs 14,850 at the upper price band. ADVERTISEMENT Not more than 75% of the net offer to Qualified Institutional Buyers (QIBs). Not less than 10% to Retail Individual Investors (RIIs). Not less than 15% to Non-Institutional Investors (NIIs). The issue will be managed by ICICI Securities Limited and IIFL Capital Services Limited, with MUFG Intime India Private Limited appointed as the registrar. ADVERTISEMENT Issue Opens: July 29, 2025 Issue Closes: July 31, 2025 Basis of Allotment Finalization: August 1, 2025 Refunds/ASBA Unblocking: August 4, 2025 Shares Credited to Demat Accounts: August 4, 2025 Tentative Listing Date: August 5, 2025 Listing Exchange: BSE and NSE Also read: NSDL IPO: Issue opens on July 30, here's what you need to know about GMP, issue details Brokerage firm Bajaj Broking has assigned a 'Subscribe for long-term' rating for the issue. ADVERTISEMENT Bajaj Broking noted that from a financial standpoint, the company has reported consistent growth over the last three financial years on a consolidated basis. It posted total income and net profit of Rs 22,955 million and Rs 1,083.11 million in FY23, Rs 27,959.6 million and Rs 1,151.72 million in FY24, and Rs 31,229.26 million and Rs 3,513.69 million in company's average Return on Equity (ROE) and Return on Capital Employed (ROCE) stand at 34.53% and 33.27%, respectively. Based on annualized FY25 earnings, the IPO's asking price implies a price-to-earnings (P/E) ratio of 20.44, while the P/E based on FY24 earnings stands at 60.05. ADVERTISEMENT Aditya Infotech Limited (AIL) is a leading player in video security and surveillance solutions in India, operating under the well-known brand name CP Plus. The company offers a wide range of products including smart home IoT cameras, HD analog systems, advanced network cameras, body-worn and thermal cameras, and AI-powered solutions such as automatic number plate recognition, people counting, and heat FY2025, the company offered 2,986 SKUs and operated across 550+ cities and towns. It caters to both residential and enterprise customers with solutions such as smart Wi-Fi cameras, 4G dash cams, EV station management, IoT automation, and AI-enhanced CCTV systems. Aditya Infotech also provides field management services, door automation systems, and has recently introduced CP PLUS AI, an intelligent surveillance solution featuring advanced analytics. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store