BEML is trading higher by 4% to Rs 810, extending its 17% rally in past 3 trading sessions, on hopes of the government will introduce new policies & liberalized foreign direct investment (FDI) in the defense sector.
The share opened at Rs 786 & strikes a high of Rs 832, its highest level since February 2011, on the BSE. A combined 1.04 million stocks changed hands on the counter so far on the BSE & NSE.
Addressing the 1st joint sitting of Parliament after the recent Lok Sabha elections, President Pranab Mukherjee said the government will expose new policies such as liberalized FDI in defense to strengthen & develop a strong indigenous defense industrial base.
For now, the share of state-owned company has almost doubled in past one month from Rs 422 on May 9, compared to 11% increase in benchmark S&P BSE Sensex.
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