Ramkrishna Forgings, BEML hit fresh 52-week high on fund buying

NEW DELHI: BEML rallied nearly 3 percent to touch highest since January 2011 of Rs 899 in trade on Tuesday, while Ramkrishna Forgings surged as much as 3.4 percent to hit its all-time Rs 401.90 on reports of fund buying.

At 09:50 a.m.; BEML was trading 2.1 percent higher at Rs 892. It hit a low of Rs 878 and a 52-week high of Rs 899 in trade today.

Ramkrishna Forgings was trading 1.1 percent higher at Rs 400. It hit a low of Rs 398 and an all-time high of Rs 401.90 in trade today.

Merrill Lynch Capital Markets buys 254,836 shares of BEML at 846.73 rupees a share in block deal, Reuters said in a report. UTI Mutual fund's midcap scheme buys 383,211 shares of Ramkrishna at Rs 387.98 a share, added the report.