Bharat Earth Movers Ltd.
A Bangalore based public sector company specializing in defense contracts and manufacturing of heavy earth moving and mining equipment.
Date: 27th June to 3rd July
Price: 1020-1090
Today a friend dropped by and asked me if he should invest in the offer.
I was like… Why on earth would you invest there?
1) even at the lowest price band the issue would be at 1020 which is at just 1% discount from the secondary market price of 1035/-. So you can never make any quick bucks (even if you make any) from this issue.
2) the BEML is not the most aggressive or the biggest machine manufacturer.. there are better picks to choose from.
