BEML shares surged over 3% and touched a day’s high of Rs 2,121 after the company bagged a Rs 5,400 crore high-speed rail order from NHSRCL.

The deal covers the supply and maintenance of high-speed rolling stock, along with allied works, for the Mumbai-Ahmedabad High Speed Rail Corridor.

The corridor will run about 508 kilometres between Mumbai and Ahmedabad and is set to be the country’s first bullet train line.

The filing did not break down how the order value splits between manufacturing and maintenance. It also did not mention the number of trainsets involved.

High-speed trains need constant servicing to run safely. That means the maintenance part of this deal could keep BEML working on the project for years after the trains are delivered, not just during the initial supply phase.

This is not BEML’s only order this quarter. Earlier in September, the company won a contract worth around Rs 180.6 crore from the Integral Coach Factory for Vande Bharat sleeper trainsets.

In August, it picked up a $6.65 million export order from Mauritius for hydraulic excavators, along with a Rs 184.25 crore contract from Hindustan Aeronautics for light combat helicopter parts.

Chairman Shantanu Roy had earlier told sources that he expects close to 30% revenue growth this year. He also said the company is targeting fresh order inflows of around Rs 20,000 crore for the fiscal.

At 11:49 am, BEML shares were trading around Rs 2,077.30 on the NSE, up 3.18% for the day.

That puts the company’s market value at close to Rs 17,300 crore. The stock remains within its 52-week range of Rs 1,355 to Rs 2,275.75.

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