BEML shares fall after ICICI Direct keeps Buy rating
In short
BEML shares fell 1.23% on Friday after hitting a 52-week high, but they still rose 7.64% for the week. ICICI Securities kept a Buy rating and gave a target price of ₹2,765.
The broker pointed to a strong rail and metro order pipeline. It also noted that BEML’s Q2FY27 net profit fell 30.5% as expenses rose.
What the reporting says
BEML shares fell 1.23% on Friday after touching a 52-week high, even as the stock gained 7.64% for the week. ICICI Securities kept a Buy rating and set a target price of ₹2,765, citing a strong rail and metro order pipeline and growth prospects. The broker also noted that BEML’s Q2FY27 net profit fell 30.5% as expenses rose, highlighting mixed signals for the defence PSU.
Why it matters
BEML stock slipped 1.23% on Friday after reaching a 52-week high, though it ended the week up 7.64%. ICICI Securities maintained a Buy rating with a target of ₹2,765, citing rail and metro orders and growth prospects. The note also said BEML's Q2FY27 net profit fell 30.5% because expenses increased, which may weigh on sentiment despite the bullish call.