ICICI Direct has buy call on BEML with a target price of Rs 1185. The current market price of is Rs 1078.
BEML Ltd., incorporated in the year 1964, is a Mid Cap company (having a market cap of Rs 4489.28 Crore) operating in Engineering sector.
BEML Ltd., incorporated in the year 1964, is a Mid Cap company (having a market cap of Rs 4489.28 Crore) operating in Engineering sector.
Financials
For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 738.31 Crore, up 10.27 % from last quarter Total Income of Rs 669.54 Crore and up 5.60 % from last year same quarter Total Income of Rs 699.15 Crore. Company reported net profit after tax of Rs 27.67 Crore in latest quarter.
Investment Rationale
Based on the above technical observations the brokerage expects the stock to extend the current up move and head towards the target of Rs 1185 levels as it is the measuring implication of the last eight weeks range breakout (Rs 1051- Rs 900) placed around Rs 1200 levels.
