BEML rose 1.62% to Rs 895.10 after Equity Intelligence India purchased 0.64% stake in the company via bulk deal on Thursday (17 December 2020).On Thursday (17 December 2020), Equity Intelligence India bought 2,65,000 equity shares (representing 0.64% stake) of BEML via bulk deal on the NSE at average price of Rs 847.63.
Equity Intelligence India is the portfolio management firm owned by Kochi-based investor Porinju Veliyath.
Shares of BEML have gained 15.56% in three days from its previous closing low of Rs 774.60 on 15 December 2020.
State-run BEML operates in three verticals viz. defence & aerospace, mining & construction and rail & metro. As of 30 September 2020, the Government of India holds 54.03% stake in BEML.
The company posted a consolidated net profit of Rs 17.22 crore in Q2 September 2020 compared with net loss of Rs 27.20 crore in Q2 September 2019.
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NEW DELHI: Shares of BEML jumped 5 per cent in Friday s trade after Porinju Velliyath’s Equity Intelligence India bought 2,65,000 shares in the company at Rs 847.63 per share.
The company CMD DK Hota in an interview to ET NOW said that the defence segment s order contribution has increased to 38 per cent of BEML s total order book - and the company s defence order book is raised to Rs 4,400 crore.
The stock rose 4.7 per cent to Rs 922.30. The scrip climbed 10.15 per cent on Thursday and 3.24 per cent on Wednesday, taking its three day gains to 19.2 per cent.
Hota said that while Atmanirbhar Bharat push is taking time in the short-run, it will be good for the country in the long run.
Market Movers: Burger King hits lower circuit for second straight day; midcaps, smallcaps underperform
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The benchmark equity indices extended their gains for the sixth straight session following gains in Infosys, ICICI Bank, Reliance Industries and Tata Consultancy Services.
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Shares of BEML climbed over 3 per cent after Porinju Velliyath’s Equity Intelligence India on Thursday bought 2,65,000 shares in the company at Rs 847.63 per share.
Shares of Reliance Industries (RIL) got traction in the fag-end of the trade on Friday, amid reports that the company and BP have started production from R Cluster, the ultra-deep-water gas field in block KG D6 off the east coast of India. On the other hand, the recently listed Burger King continued to hit the lower circuit for the second straight session. The scrip plunged around 10 per cent to Rs 161.45.
NSE-BSE bulk deals: Porinju Velliyath’s Equity Intelligence picks up stake in BEML
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Last Updated: Dec 17, 2020, 10:08 PM IST
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Of the frontline indices, market barometer Sensex advanced 224 points to 46,890, while peer Nifty climbed 58 points to close at 13,741.
Equity Intelligence India bought 2,65,000 shares of BEML at Rs 847.63 per share.
Mumbai: Among the key bulk deals on Thursday, Equity Intelligence India, the portfolio management firm owned by Kochi-based investor Porinju Veliyath, picked up stake in state-run defence company BEML, while Sipadan Investments (Mauritius) trimmed its holdings in IDFC.
Of the frontline indices, market barometer Sensex advanced 224 points to 46,890, while peer Nifty climbed 58 points to close at 13,741.