$BEML share price in focus: Elara trims target for defence stock, flags lower closing order book despite steady growth outlook

BEML share price remains in focus after Elara Capital revised its target price to Rs 2,620 from Rs 2,700, citing a weaker-than-expected closing order book and near-term supply constraints. While the brokerage maintained a ‘Buy’ rating, it flagged that the FY26 order book came in at Rs 159 billion, missing the Rs 200 billion target due to delayed mining tenders. Despite this, Elara highlighted strong medium-term prospects driven by robust metro and defence pipelines, steady revenue growth guidance, and improving operating leverage supporting margins. Elara Capital on BEML