BEML shares jumped 7.7 percent on Wednesday, reaching an intraday high of Rs 4,009.25 a share, after the business signed a contract with Integral Coach Factory to design and produce two 'Made in India' high-speed trains. At 11:06 a.m., the BSE's BEML share price was up 4.76 percent to Rs 3,896.65 a share. In comparison, the BSE Sensex fell 0.11 percent to 81,728.12 about the same time.

"BEML Limited has been awarded a contract for the designing, manufacturing, and commissioning of two high-speed train sets, each comprising 8 cars by Integral Coach Factory (ICF), Chennai," according to the business's exchange submission.

The overall contract value for the project is Rs 866.87 crore, with each car priced at Rs 27.86 crore. The contract cost comprises design costs, one-time development costs, non-recurring charges, and one-time costs for jigs, fixtures, tooling, and testing facilities, which will be used in all future high-speed rail projects in India. BEML will produce the first train sets created in-house, with a test speed of 280 kmph. The manufacture will take place at BEML's Bengaluru rail coach plant, with delivery scheduled for the end of 2026.

Prior to this, BEML designed and produced India's first Vande Bharat Sleeper train set, which was inaugurated by Railways Minister Ashwini Vaishnaw in September. 

The Vande Bharat Sleeper train set includes a number of world-class features, such as an integrated reading light with USB charging capability, a public announcement system and visual information systems, inside display panels and security cameras, modular pantries, and special berths and toilets for differently abled passengers. Furthermore, the first air-conditioned car includes hot water showers, which improves passenger comfort.

BEML is a multi-technology company run by the Ministry of Defense. It operates in three verticals: defense and aerospace, mining and construction, and rail and metro. Manufacturing facilities are located in Bangalore, Kolar Gold Fields (KGF), Mysore, and Palakkad. 

For more than 60 years, the company has been manufacturing earthmoving, transportation, and construction equipment. BEML shares have increased by 334 percent over the last year, while the BSE Sensex has increased by 23 percent.