Meanwhile, the BSE Sensex was up 2.49 points, or 0.02%, 14,647.96.
On BSE, 64,477 shares were traded in the counter. The stock had an average daily volume of 50,116 shares in the past one quarter.
The stock hit a high of Rs 1124.40 and a low of Rs 1065 so far during the day. The stock hit a 52-week high of Rs 1153.50 on 330 June 2009 and a 52-week low of Rs 280 on 3 December 2008.
The stock had risen 22.41% in just four trading sessions to Rs 1097.85 on 1 July 2009 from a recent low of Rs 896.85 on 25 June 2009, boosted by strong Q4 March 2009 outcome. Expectations of some positive announcement in the Railway Budget on 3 July 2009, also aided the rally in the shares of BEML, which makes engineered products for the Indian Railways.
The mid-cap stock had outperformed the market over the past one month till 1 July 2009, gaining 40.70% as compared to the Sensex's 1.32% fall. It had also outperformed the market in the past one quarter, surging 159.11% as compared to the Sensex's return of 47.90%.
The company's current equity is Rs 41.64 crore. Face value per share is Rs 10.
The current price of Rs 1086.70 discounts the company's Q4 March 2009 annualized EPS of Rs 165.24, by a PE multiple of 6.58.
BEML reported 45.2% growth in net profit to Rs 172.02 crore on 20.4% rise in sales to Rs 1262.51 crore in Q4 March 2009 over Q4 March 2008. The net profit rose 19.1% to Rs 268.84 crore on a 10.1% increase in sales to Rs 2797.17 crore in the year ended March 2009 over the year ended March 2008. The company announced the results after market hours on Friday, 26 June 2009.
At the time of announcing results, the board of directors of the company recommended a dividend at the rate of Rs 12 per share (120%).
Recently, the media as saying that the company expects 40% jump in sales in the Q1 June 2009 over Q1 June 2008 quoted BEML's chairman V R S Natarajan. Natarajan added that in the current financial year, BEML hopes to get orders worth Rs 2000 crore.
BEML earlier known as Bharat Earth Movers is engaged in manufacturing mining and construction equipments, railway rolling stocks, metro and defense equipments and aggregates. The products include bulldozers, shovels, excavators, dumpers, railway and transway passenger coaches.
The Government of India holds 54.03% stake in BEML (as on 31 March 2009).