Earlier, on September 26, BEML signed an agreement with Bharat Forge Limited and Data Patterns (India) Limited to jointly support the Advanced Medium Combat Aircraft (AMCA) programme.
Shares of BEML closed 3.46% lower at Rs 4062.35 on Monday against the previous close of Rs 4208.10. Market cap of the firm stood at Rs 16,917 crore.
An analyst from Anand Rathi said that BEML is witnessing weakness as the stock trades below its 10 and 20 DEMA, signalling cautious sentiment in the near term.
An analyst from Anand Rathi said that BHEL is encountering strong resistance in the Rs 260–265 zone, which coincides with its previous historical top and marks a critical supply area.
India’s annual defence output surpassed Rs 1.27 lakh crore and is projected to reach Rs 1.75 lakh crore by FY29, according to Nirmal Bang Institutional Equities.
Shares of BEML Ltd ended 6% higher at Rs 4425 on the BSE in the previous session.
BEML shares fell Rs 185.25, or 4.02 per cent, to Rs 4,417.95 on BSE at 10:51 am.
Shares of BEML Ltd ended at Rs 4,521.90, reflecting a rise of Rs 70.85, or 1.59%, on the BSE in the previous session.
BEML's stock traded higher than the 5-day, 10-, 20-, 30-, 50-, 100-, 150-day and 200-day simple moving averages (SMAs).
"BEML has a strong order book and remains focused on the defence and railway sectors. Long-term investors can consider buying the stock on meaningful corrections," an analyst said.
BEML: The scrip traded higher than the 5-day, 10-, 20-, 30-, 50-, 100-, 150-day and 200-day simple moving averages (SMAs).





