Shares of BEML gained 7 percent intraday on June 18 after the state-owned entity flagged off its last train set for Kolkata Metro (East-West) Project.
BEML had secured the contract for 14 train sets (6 cars each), valued at approximately Rs 900 crore from Kolkata Metro Rail Corporation (KMRC).
The company said it had independently completed the design, manufacturing activities and the delivery of the prototype train set was done during March 2018, which was subjected to extensive testing and trials on KMRC mainline including statutory testing by RDSO & CRS and cleared all the tests.
Subsequently, the company built KMRC train sets were put to revenue operation since February 2020 and are operating satisfactorily, it added. "Further, 6 train sets are ready for deployment in revenue operation."
"We are on track, as we despatched the last of the 14 train sets for Kolkata Metro (East-West) project for KMRCL. We have proved our capabilities and expertise in the supply of Metro coaches. An epitome of successful ‘Make in India’ initiative in the rolling stock industry," Deepak Kumar Hota, CMD said.
The stock was quoting at Rs 622.70, up 4.54 percent on the BSE at 13:37 hours IST. It rallied 63 percent from its March lows so far.
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