Share of BEML Ltd shares rose 3.1 % on 24 October. This increase followed the company signing a memorandum of understanding (MoU) with Tesmec S.p.A. of Italy to introduce surface miner equipment for mining applications.

The MoU states: “BEML Limited and M/s. Tesmec, S.P.A Italy has entered into a Memorandum of Understanding (MoU) for introducing Surface Miner equipment by BEML for Mining applications.”

Recently, BEML entered into a memorandum of understanding (MoU) with Kineco. They aim to collaborate on advanced composite manufacturing for aerospace and defence applications.

Under this partnership, both companies will jointly design and produce carbon fibre reinforced polymer (CFRP). They will also work on glass fibre reinforced polymer (GFRP) panels and components, honeycomb cores, foams, and bonding materials used in metallic parts.

These high-performance materials form the backbone of next-generation aerospace and defence platforms. They provide superior strength-to-weight ratios, enhanced durability, and improved efficiency.

“By integrating Kineco’s composite manufacturing expertise with BEML’s engineering excellence, we aim to create world-class solutions. These solutions reinforce India’s pursuit of Aatmanirbhar Bharat and Make in India in high-value defence technologies,” BEML CMD Roy said.

Operating under the administrative control of the Ministry of Defence, BEML focuses on three major sectors. These include construction and mining, rail and metro, and defence and aerospace.

Established in May 1964 and headquartered in Bengaluru, BEML Limited (formerly Bharat Earth Movers Limited) is a leading Indian public enterprise.

At 3:24 pm, the shares of BEML were trading 0.82% higher at Rs 4,433 on NSE.