While markets are hitting new all time highs, many PSU stocks are languishing at where they were towards the close of 2008 (though as usual, there are some exceptions). BEML on the other hand is currently below even the 2008 low. This despite it having jumped more than 100% from its low of 2013. In fact, you can get BEML for the same price you could have got when it started it bull rally way back in 2003 (that is 10 years of Zero Return).
The problem with picking stocks such as BEML (or Crompton / DLF for that matter) is that unlike bullish stocks where there exists strong momentum to carry it forward (and at new highs, literally no resistance), these stocks take their own sweet time to reclaim past losses owing to selling by weak hands who want to exit the stock as soon as price nears their purchase price (of many years ago). But the risk is well worth the potential rewards it offers and hence a part of any portfolio can consist of such stocks.
Coming back to BEML, 250 seems to be a potentially strong resistance level and if taken out should lead to some solid gains as the next major resistance comes in only at 410 levels. I anticipate that PSU stocks will rise in anticipation of change in government at central level which hopefully should lead to the resumption of the old disinvestment program (as was done by NDA when it was in power). But then, thats just speculation 🙂