Centre okays 26% strategic sale in BEML

The government currently holds 54.03 percent stake in the firm

GN Bureau | January 7, 2017


#BEML   #PSU  


In a significant development, the government has approved 26 percent strategic sale in state-run BEML Limited, a mini-ratna (category-1) public undertaking. A notification to stock exchanges informed that the ministry of defence has approved of the strategic sale plan, reported The Economic Times.

Sources said that the stake sale may take place early next fiscal. However, employee union has opposed the move.
 
“The union government, ministry of defence, has given ‘in-principal’ approval of the cabinet committee on economic affairs (CCEA) of the centre, for strategic disinvestment of 26 per cent equity shares in BEML Limited,” it said in its notification to the exchanges.
 
The government currently holds 54.03 percent stake in the firm. “The said shareholding would be sold to the strategic buyer/s to be identified by the government of India,” the firm added. 
 

Comments

 

Other News

The overlooked link: climate policy and public health

Returning from a recent Renewable Energy (RE) meeting of the World Meteorological Organisation (WMO), UN in Germany, I was struck by the news of Delhi’s record-high AQI levels forcing partial closures across NCR. This alarming situation begs the question: Is our health sector climate-resilient enough

Exploring the treasures of India arts is a treat with this guide

The Big Book of Indian Art: An Illustrated History of Indian Art from Its Origins to the Present Day By Bina Sarkar Ellias Aleph Book Company, 815 pages, Rs 2,499

Himalayan heights potentially perfect for India`s ‘Quantum Leap’ to space: Study

In a pioneering study for the Indian subcontinent, scientists have mapped out optimal locations for beaming quantum signals into space. Satellite-based quantum communications including quantum key distribution (QKD) represent one of the most promising approaches toward global-scale quantum c

Fadnavis takes oath as CM of Maharashtra

Devendra Fadnavis was sworn in as chief minister of Maharashtra Thursday evening, ending days of uncertainty. Alliance partner and former CM Eknath Shinde, who had kept everyone guessing till the last moment, agreed to become a deputy CM alongside Ajit Pawar. The three leaders were administe

How effective is IMF financial assistance for developing countries and LDCs?

With low income levels and weak institutional capacities, developing countries and Least Developed Countries (LDCs) are more vulnerable to external events like geopolitical crises, climate change, and rising debt burdens. To manage crises and foster development, these economies often rely on

Ever wondered about the Why of digital transformation?

What if the next wave of digital transformation isn`t about technology at all? In a world where AI writes our emails, algorithms shape our decisions, and d

Visionary Talk: Amitabh Gupta, Pune Police Commissioner with Kailashnath Adhikari, MD, Governance Now


Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter