BEML shares end higher after PSU signs MoU with Italy's Tesmec; stock advances 40% in 6 months

Surface miner equipment refers to heavy machinery used in open-cast mining operations. This includes surface miners, which cut and crush rock and soil without drilling or blasting.

Other types of surface mining equipment include draglines, bucket-wheel excavators, blasthole drills, dozers, and large mining trucks.

In a filing to the BSE, the company said, "BEML Ltd and Tesmec, S.p.A Italy have entered into a Memorandum of Understanding (MoU) for introducing surface miner equipment by BEML for mining applications."

About BEML Ltd

BEML Limited, formerly Bharat Earthmovers Limited, is a public sector company. Incorporated in 1964, the public sector undertaking of the Defence Ministry is primarily engaged in the manufacture of rail coaches and spare parts and mining equipment.

BEML plays a significant role in manufacturing different products and offering technology solutions for defence, rail, power, coal, steel, irrigation, construction, and mining sectors.

BEML has achieved major strides in Indian defence systems, Metro Rail locomotives. The defence PSU has four manufacturing units in Bengaluru, Mysore, Kolar Gold Fields, and Palakkad. Besides manufacturing, the company provides test facilities to private entities, particularly promoting the start-up ecosystem.

The defence sector PSU has reached an annual turnover of ₹4,300 crore from ₹5 crore per annum in its initial years. The company’s primary business verticals include defence and aerospace, mining and construction, and rail and metro.

The company also operates three strategic business units – the technology division, the trading division, and the international business division. The technology division offers end-to-end engineering solutions, while the trading division deals in various products for non-company entities. BEML’s international business division manages all its export operations.

Latest Updates

Early in October 2025, BEML said it had partnered with Kineco Ltd to work in the field of advanced composite manufacturing for defence and aerospace applications.

As part of the collaboration, BEML and Kineco will jointly engage in the development and manufacturing of carbon fibre reinforced polymer (CFRP) structures, glass fibre reinforced polymer (GFRP) panels and components, honeycomb cores, foams, and bonding consumables for metallic detail parts.

These advanced materials are integral to next-generation aerospace and defence systems, offering lightweight strength, enhanced durability, and superior performance.

BEML share price trend

Shares of the company have rallied around 40% in the past six months and over 7.5% year-to-date (YTD). In the past 12 months, the stock has gained 14.5%.