Bharat Earth Movers renamed BEML Ltd

Pursuant to the company's diversification to other related areas like coal mining sector early this year, Bharat Earth Movers Limited decides to change its name.

Public Sector engineering major Bharat Earth Movers Limited on Friday said its name has been changed to BEML Ltd.

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The board of directors at the company's annual general meeting held on August 22 had approved the proposal, the company said in the filing to the Bombay Stock Exchange.

Pursuant to the company's diversification to other related areas like coal mining sector early this year, Bharat Earth Movers Limited decided to change its name.

BEML has vital applications in diverse sectors of the economy such as coal, mining, steel, cement, power, irrigation, construction, road building and railways.

BEML has reported a net profit of Rs 23.59 crore and total income of Rs 406.96 crore in the first quarter ended June 30 this year.

Shares of the company closed at Rs 1,403.30, down 5.2 per cent at the Bombay Stock Exchange.