BEML - Technofunda

 

 

 

  BEML                     CMP   525                                                                     SL   495                                                         Target   575 

Company Description

 BEML (formerly Bharat Earth Movers) is a public sector undertaking manufacturing BEML Limited operates as a construction equipment company in India and internationally. The company offers a range of mining machinery for opencast and underground mines; and produces machines, such as electric rope shovels, hydraulic excavators, bulldozers, wheel loaders, wheel dozers, dump trucks, motor graders, pipe layers, tire handlers, water sprinklers, and backhoe loaders, as well as mammoth walking draglines for the opencast mines.

BEML's products are exported to more than 56 countries. As part of the company's globalisation strategy, it has expanded global reach by opening a local company in Indonesia and Brazil recently in addition to offices in Malaysia and China.

 

Technical Comments  

 

Stock has made positive Island reversal where 8-12% target in 1-60days can be possible in the stock. Stock Gapped-down(506-501) on 18/10/2011 and today gapped-up(497-498) and if the stock holds Rs.495 on downside then 575 on higher side can be possible. 

 

 

 

 

 

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