Stock market analysts have maintained ‘buy’ rating on Bharat Earth Movers Limited (BEML) stock with an intraday target of Rs 792.

According to them, interested traders can purchase the stock above Rs 785 with a strict stop loss of Rs 780. If the stock market remains positive, the stock pricing becomes more attractive, and reach above Rs 794.
 
Shares of the company, on Tuesday (Sep 09), closed at Rs 784.55 on the Bombay Stock Exchange (BSE). The total volume of shares traded at the BSE was 4410. Current EPS & P/E ratio stood at 44.33 and 17.71 respectively. The share price has seen a 52-week high of Rs 1849.95 and a low of Rs 600 on BSE.

The stock has great potential to go upside. It can still exhibit superb surge. The long term traders are recommended to hold the stock.

Defence public sector undertaking Bharat Earth Movers (BEML), on Sep 09, has pocketed a developmental order from the Railway board for design, manufacturing, supply, testing and commissioning of two rakes comprising 18 Nos. of high-tech Stainless Steel AC Electric Multiple Unit (EMU) Coaches valuing Rs 310 million. The order is likely to be completed within two years.
 
In July, BEML announced that the company along with Dredging Corporation of India (DCI) is making discussions to form an alliance for making dredgers indigenously.

DCI has decided to build up dredging equipment at BEML, which has the knowledge in making earth-moving and other heavy industrial equipment, for the mining as well as civil engineering industries.

For the three months period, the company has recorded a 26.72% growth in its standalone net profit, which stood at Rs 1,185 million, as against Rs 935.1 million during the same quarter last year.

The company has registered earnings of Rs 28.46 per share during the quarter, registering 11.83% gain over previous year period.

During the quarter, net sales zoomed 11.79% to Rs 10,490.30 million, whereas total income climbed 14.71% to Rs 10,994.30 million.

Other stocks from the same sector that looks good for short-term as well as long-term trading includes Suzlon Energy, BHEL, Praj Industries and BGR Energy.