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Bharat Earth Movers
Highlights
Bharat Earth Movers Ltd, which is popularly known as BEML by its short form in the stock markets, is a public sector unit. Its share had scaled to a high of Rs 1,830 during the 2007-08 market boom and then fell to a low of Rs 280 in December 2008, when the markets crumbled.
Bharat Earth Movers Ltd, which is popularly known as BEML by its short form in the stock markets, is a public sector unit. Its share had scaled to a high of Rs 1,830 during the 2007-08 market boom and then fell to a low of Rs 280 in December 2008, when the markets crumbled.
The share then rose to a high of Rs 1,275 in January 2010 and once again met with a technical correction in line with the market to have fallen to a low of Rs 126 in August, 2013, when the markets bottomed out of the latest bearish phase.
From such a low, the share once again zoomed to an uptrend and rose to a high of Rs 1,609 in July, 2015, but with the general trend once again deteriorating, returning to a low of Rs 1,025.10 on November 20.
Since Novermber 20, the share seems to have once again entered a bullish trend and reached a high of Rs 1,272 as on Friday of the last week before closing at Rs 1,263.30, at which level, it has once again surfaced above all the three moving averages, a technical parameter that suggests a further rise in the offing. The share is, therefore, suggested to be picked up for medium-term investing.
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