BEML is in the limelight today morning, with the stock price rising over 3.5% to Rs.777 and continues to remain firmly in the green.
The reason for this cheer on the BEML counter is after Mumbai Metropolitan Region Development Authority (MMRDA) announced that it has given a contract to BEML.
This contract is for supply of rolling stock on Metro corridors 2A, 2B and 7 at a cost of Rs 3,015 crore.
The contract was awarded to BEML at lowest cost in the country of Rs 7.98 crore per rake, excluding taxes.
The delivery of the first prototype train set, with coaches being manufactured in India, is expected next year. The total completion time is 200 weeks and 12 trains will be supplied every quarter by BEML after prototype clearance.
Seven firms had submitted bids for supplying 378 coaches for Dahisar-DN Nagar Metro-2A and Andheri (East)-Dahisar (East) Metro-7 corridors.