BEML Bags ₹294 Crore Defence Order for HMV 6X6 Vehicles 🛡️

Hey there, finance enthusiasts!

We’ve got some interesting news from BEML Limited, a key player in India’s defence and heavy engineering sectors. The company has announced that it has bagged a significant order from the Ministry of Defence.

This new contract is for the supply of HMV 6X6 vehicles, which are essentially Heavy Mobility Vehicles with a 6-wheel drive configuration. These types of vehicles are crucial for military logistics, transport, and various operational needs, highlighting their importance in strengthening defence capabilities.

The value of this order stands at approximately ₹293.82 crores. For BEML, a ‘Schedule ‘A’ Company operating under the Ministry of Defence, securing such an order is right in line with its core business activities, particularly within its Defence & Aerospace segment.

According to the company, this order is considered to be in the normal course of business, underscoring BEML’s consistent contribution to India’s defence infrastructure. Beyond defence, BEML also plays a vital role in Mining & Construction and Rail & Metro sectors, showcasing its diverse engineering prowess.

BEML, a prominent name on the stock exchange, recently saw its shares trade around Rs. 4148. This order further solidifies its position as a crucial supplier to the Indian armed forces.

Stay tuned for more updates from the world of finance!

source: Corporate Announcement

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