Bharat Earth Movers Ltd has posted a net profit of Rs 104.80 million for the quarter ended December 31, 2002 as compared to net profit of Rs 15.40 million in the quarter ended December 31, 2001.
The defence minister, without naming anyone, said some people are not liking the rapid development of India and are unable to digest it.
'We are not incentivising the old tax scheme. These taxpayers will also shift to the new regime after comparison.'
The Enhanced Pinaka has demonstrated a range of 75 km and an ability to strike within 10 metres of where it is aimed. This allows a Pinaka battery to destroy a terrorist camp, or an enemy post, logistics dump or headquarters, without sending soldiers across the border.
From highways connecting once-remote regions to aviation networks carrying millions, India's infrastructure story is one of transformation.
'Focus on 19,400/64,900 as the key resistance levels for the Nifty/Sensex.'
Bharat Earth Movers is set to witness a re-rating driven by the huge potential in the metro rail projects planned across the country.
The six Pinaka Regiments comprise of 114 Launchers with automated gun aiming and positioning system and 45 command posts to be procured from M/s TPCL and M/s L&T, and 330 vehicles to be procured from M/s BEML.
Bharat Earth Movers Ltd and Konkan Railway Corporation Ltd signed a pact to manufacture sky-buses for the metro rail project in Goa.
Bharat Earth Movers Ltd said it signed a memorandum of understanding with Bumar Ltd, Poland, for manufacture and supply of defense products with provision for transfer of technology.
A money laundering case has been registered against Vectra chief Ravinder Rishi and his firms by the Enforcement Directorate to probe alleged generation of illegal funds in the defence deal between Tatra Sipox United Kingdom and defence public sector undertaking Bharat Earth Movers Limited.
The defence ministry on Wednesday sought an explanation from BEML chief V R S Natarajan for serving a legal notice on former Army Chief Gen V K Singh demanding an apology for his alleged defamatory statements against the defence PSU on the Tatra truck issue.
Notwithstanding controversy, Tatra trucks produced by the state-owned Bharat Earth Movers Limited are taking part in the summer trials conducted by the army for procuring heavy trucks to ferry missile and artillery systems.
The Central bureau of Investigation on Tuesday questioned Vectra chairman Ravinder Rishi for the fourth time in connection with alleged irregularities in the Tatra truck supply to the Army.
The Central Bureau of Investigation has called NRI businessman Ravi Rishi, owner of the United Kingdom-based Vectra Group, for questioning in connection with alleged irregularities in the supply of all-terrain Tatra trucks through state-owned Bharat Earth Movers Limited to the army.
The Central Bureau of Investigation is planning to approach Czech-based Tatra a.s to ascertain the reasons for supplying older technology based all-terrain vehicles to Bharat Earth Movers even though it has better versions available.
The Central Bureau of Investigation is inquiring into the irregularity, if any, in the purchase of the all-terrain Tatra vehicles by the Indian Army from the Bharat Earth Movers Limited.
The government-run Bharat Earth Movers Limited continues to do business with the United Kingdom-based Tatra Sipox, in spite of the latter facing a criminal case filed by the Central Bureau of Investigation. The PSU sought a fresh lot of Tatra trucks, priced at Rs 59.6 lakh each, in July -- two months after the CBI filed its case against the company.
'Inter-ministerial coordination, information on the proposed PSUs, and due diligence are taking longer than expected to conclude the process.'
Former army chief General V K Singh had some time back claimed that he had scuttled a Bharat Earth Movers Limited bid to sell overpriced Tatra vehicles to the Indian Army. But in February 2012, the army quietly signed a contract with BEML for an even larger and more controversial purchase: a $275-million (about Rs 1,500 crore) contract for 204 armoured recovery vehicles.
Bharat Earth Movers Limited Chairman and Managing Director V R S Natarajan on Tuesday appeared before the CBI as the agency had asked him to come for giving clarifications pertaining to procurement and supply of Tatra all-terrain trucks to the Indian Army.
Public sector undertakings Bharat Earth Movers (BEML), Rural Electrification Corporation (REC), Power Grid Corporation of India and National Hydroelectric Power Corporation (NHPC), are slated to hit the market with their IPOs.
Bharat Earth Movers Ltd has bagged Rs 800 crore (Rs 8 billion) orders from Ministry of Defence for various ground support high-mobility vehicles.
Coming Wednesday, Finance Minister (FM) Nirmala Sitharaman will present the 2023 Union Budget - the last full Budget ahead of the 2024 Lok Sabha elections. While India exited 2022 as a relatively bright spot in the global economy, the FM will endeavour to present a Budget that insulates India's economy against global headwinds and recession in advanced economies, while sticking to the path of fiscal consolidation. In this, she is being helped by her core team of trusted advisors.
Bharat Earth Movers has posted a 4% increase in net profit to Rs 18.07 crore for the fourth quarter ended March 31, 2003 when compared with Rs 17.36 crore for the corresponding quarter last fiscal.
PSU stocks continued with their reign of gains as the market expects that most of these companies have done well in the just concluded quarter.
As many as 20 central public sector enterprises and their units are at various stages of strategic disinvestment, while six are being considered for closure or are under litigation, Minister of State for Finance Anurag Singh Thakur said on Monday.
The government will press ahead with the sale of public sector companies that have been approved by the Cabinet, Finance Minister Nirmala Sitharaman said on Thursday. Highlighting that FDI flow into India is much higher compared to other emerging economies, she said India's strong macroeconomic fundamentals, ability to do reforms and a stable government help attract long-term foreign funds into Indian businesses.
Modi also rolled out the first of the 500 metro coaches manufactured by Bharat Earth Movers in flat 75 days at it Bengaluru facility.
There is money to buy the central public sector enterprises, but buyers will need a firm assurance that the disvestment programme will keep environment issues front and centre of their corporate plans.
A large Dhruv order could significantly boost Indian defence exports. These have grown from Rs 1,940 crore in 2014-2015 to Rs 10,745 crore in 2018-2019.
A total of 20 such train sets of Hyundai Rotem will be manufactured in South Korea's Changwan.
'The target for next year is unlikely to be more than that of this year. The more you divest in any cycle, the less your potential pipeline for the next,' said an official. 'The first two issues we want to tackle and complete in FY20 are Air India and Hotel Ashok.'
Known for stable returns, near debt-free status and dividend track record, these 10 PSU stocks are worth buying now.
The ministry of defence has bought two regiments of the indigenous Pinaka multi-barrelled rocket launcher for Rs 3,230 crore.
Out of nearly 30 public sector undertakings and assets under 'strategic sale' plan, only the ONGC-HPCL plan has been completed
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