logo
#

Latest news with #HMV8X8

BEML shares in focus after Rs 282 crore defence order and hyperloop MoU pact
BEML shares in focus after Rs 282 crore defence order and hyperloop MoU pact

Time of India

time5 days ago

  • Automotive
  • Time of India

BEML shares in focus after Rs 282 crore defence order and hyperloop MoU pact

Hyperloop agreement with IIT Madras startup Live Events Shares and technical March quarter earnings (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Shares of state-owned BEML are set to be in focus on Tuesday as the company disclosed a Rs 282 crore order from the Ministry of Defence and signed a new agreement to co-develop India's first indigenously designed hyperloop transportation system In a regulatory filing on Monday, BEML said it had secured a contract for the supply of High Mobility Vehicles (HMV) in an 8x8 configuration. This comes just a week after the company announced a separate Rs 293.8 crore order for HMV 6x6 units, which are all-terrain vehicles used for personnel movement and general service roles by the Indian Army.'We hereby inform that BEML Limited has bagged an order from the Ministry of Defence for supply of HMV 8X8 with contract value of Rs. 282 crores approximately,' the company said in the BEML said it had entered into a Memorandum of Understanding (MoU) with TuTr Hyperloop, a deep-tech startup incubated at IIT Madras, to jointly develop a prototype of a high-speed transportation system based on hyperloop to BEML, hyperloop is a transportation system in which passenger or cargo pods move through sealed tubes in a near-vacuum environment, using Magnetic Levitation and Linear Induction Motor (LIM) propulsion part of the agreement, BEML will serve as the principal manufacturing partner. The partnership aims to develop a pod capable of transporting passengers and freight at high speeds using advanced propulsion systems.'The goal is to create a radically faster, greener, and more efficient mode of transport,' BEML said in a press of BEML closed 3.64% higher at Rs 3,987.35 apiece on the BSE on Monday. The benchmark Sensex gained 0.52% on the day. The stock remains down 2.07% over the past 12 months and 10.24% a technical perspective, the stock is trading below its 10-day, 20-day, 30-day, and 50-day simple moving averages (SMAs), while staying above the 5-day, 100-day, 150-day, and 200-day SMAs. The Relative Strength Index (RSI) stands at 38.6, while the Moving Average Convergence Divergence (MACD) is at -117.1, below both the center and signal the quarter ended March 31, 2025, BEML reported a 12% year-on-year rise in net profit to Rs 287.5 crore, compared with Rs 257 crore a year earlier. Revenue rose 9.1% to Rs 1,652.5 crore from Rs 1,514 crore in the same period last stood at Rs 422.6 crore, a 13.9% increase from Rs 371 crore, while operating margins expanded to 25.57% from 24.5%, reflecting improved cost controls.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)

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