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).
Elara Securities reaffirms BEML's growth prospects, forecasting an orderbook of Rs 22,000-23,000 crore by FY26.
An analyst from Anand Rathi said that Suzlon has witnessed a mild correction from its recent high at the current juncture and is now trading near the Rs 68 mark.
BEML shares: The state-owned commercial vehicle player's stock has surged nearly 50 per cent in less than three weeks, delivering healthy returns to the investors.