Buy BEML, target Rs 894: Microsec Research

Microsec Research recommends a buy on BEML with a target price of Rs 894 and a strict stop loss placed at Rs 860. The stock has lost 32 per cent so far in the calendar year 2016. The stock is looking bullish on the charts.

BEML is a high beta stock (1.02) and is trading well above its 50-day moving average of Rs 870.93, but below its 100-day and 200-day moving average of Rs 932.88 and Rs 1048.93, respectively, as per data collated by ETMarkets.com. The stock is trading with a P/E of 71.1 and P/B of 1.8.