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

It`s time to Unlock now, with economic focus

With Lockdown 4 ending Sunday, the home ministry has issued new guidelines to fight COVID-19 and for phased re-opening of areas outside the Containment Zones. The guidelines, issued based on extensive consultations held with states and UTs, will be effective from June 1 till June 30. The first phase of reo

Small kitchen gardens turn saviours for Gujarat tribal families

When the whole world is fighting COVID-19, food and nutrition security has become a major issue. The pandemic has aggravated the existing food crisis in India, especially in rural and tribal regions. There has been less availability of fresh foods in most parts of the country, and the tribal community has

India will set example of post-Covid-19 economic revival: Modi

India is determined to “set an example” for the rest of the word in the post-pandemic economic revival, prime minister Narendra Modi has said, underling the need to become self-reliant. “There is also a widespread debate on how the economies of various countries, including

3,543 ‘Shramik Special’ trains transport 48 lakh people in 26 days

Close to 48 lakh migrant labourers have been able to reach home from the cities they were working in, as the Indian Railways have run a total of 3,543 “Sharmik Special” trains from May 1. Following the home ministry order regarding the movement by special trains of migrant worker

How Jeevan Raths have helped 52,000 migrants in Maharashtra

Before the novel coronavirus hit it, Mumbai about 10-12 lakh labourers from elsewhere had made it their home. The figure for the state of Maharashtra was another 18-20 lakh. As the pandemic spread and the Maximum City emerged as the worst-hit place in India, all economic activities came to an end, and with

China is practicing attack as the best form of defence

For the rest of the world, it is not easy to understand China when it comes to politics or economics. Under pressure from the international community, it has accepted to open the country for a “comprehensive” probe into the origin of the deadly coronavirus. But it is not clear whether the Asian



Archives

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter