The share price of state-run BEML Ltd gained over 2 percent on Wednesday after the company said it received export orders worth USD 23 million from Cameroon and Bangladesh for construction equipment under the Government of India-Lines of Credit.

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The order for Cameroon has been received from the Ministry of Economy, Planning & Regional Development (MOEPRD), Government of Cameroon for supply of 71 units of construction equipment consisting of bulldozers, excavators, wheel loaders, motor graders and compactors for their Cassava Farm project, the company said in a regulatory filing

The order for Bangladesh has been received from the Ministry of Roads & Highways Department, Government of Bangladesh for the supply of construction equipment consisting of wheel dozer for their construction, repair and maintenance of Road and Infrastructure projects in Bangladesh, it added.

“Valuing at around USD 23 million, these equipment will be having more than 90 percent indigenous content and will be manufactured at BEML’s KGF and Mysore plants in Karnataka signifying the true spirit of ‘Atmanirbhar Bharat’ with thrust on going global,” BEML said.

The stock price of BEML has surged over 43 percent in the last one month. It has risen more than 44 percent in 2021.

At 11:10 am, the shares of BEML were trading 2.07 percent higher at Rs 1,402.10 apiece on the BSE as compared to a 0.20 percent gain on the benchmark Sensex.

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