ETNow reported, citing sources, that “BEML likely to be upgraded from Miniratna to Navratna, giving it greater financial & operational freedom; formal announcement expected soon.”
The move would mark a significant step up for the Bengaluru-based public sector undertaking, potentially unlocking greater autonomy in investment and strategic decisions.
Over the past week, the stock has gained a little over 4%. It is up 6% over the last year, though trading flat so far in 2025.
Technical picture
From a charting standpoint, the stock is trading above seven of its eight key simple moving averages, including the 5-day, 10-day, 20-day, 30-day, 100-day, 150-day, and 200-day SMAs, while remaining below its 50-day SMA.
The Relative Strength Index stands at 51.2, suggesting the stock is neither overbought nor oversold. The Moving Average Convergence Divergence is at -16.6 but remains above the centre line, a signal that continues to reinforce a bearish indicator.
Earnings lag behind
The upgrade chatter comes on the heels of disappointing quarterly results. For the June quarter, BEML reported a net loss of Rs 64 crore, narrowing slightly from a Rs 70.5 crore loss in the same period last year.
The company was expected to show a smaller EBITDA loss due to improved operating leverage. Instead, it reported an EBITDA loss of Rs 49 crore, compared with expectations of a Rs 45 crore loss and against a Rs 50.1 crore loss last year.
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Revenue for the quarter came in flat at Rs 634 crore, falling short of projections of Rs 689 crore. Sequentially, the topline dropped more than 60%.
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