Buy BEML, target price Rs 1440: ICICI Direct

ICICI Direct has buy call on BEML with a target price of Rs 1440. The current market price of BEML Ltd. is Rs 1340.4.
BEML Ltd., incorporated in the year 1964, is a Mid Cap company (having a market cap of Rs 5485.83 Crore) operating in Engineering sector.

Financials
For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 738.31 Crore, up 10.27 % from last quarter Total Income of Rs 669.54 Crore and up 5.60 % from last year same quarter Total Income of Rs 699.15 Crore. Company reported net profit after tax of Rs 27.67 Crore in latest quarter.


Investment Rationale
The immediate support is placed at Rs 1245 levels being 50% retracement of past three weeks up move (Rs 1119-Rs 1349)