BEML Disinvestment

Interim Budget 2024: For FY24, the Centre had set a disinvestment target of Rs 51,000 crore but has only been able to meet one-fifth of it so far

BEML had incorporated as a wholly owned subsidiary (WOS), namely BEML Land Assets, on July 15, 2021

Brickwork Ratings said it will continue to monitor the strategic disinvestment process of BEML and take appropriate rating action as and when necessary

The government has already invited preliminary bids to sell its 26 per cent stake in BEML along with transfer of management control

S&P BSE MidCap index touched record high in the intra-day trade of 18,435. On the sectoral front, Nifty IT index closed at record high

Karnataka Chief Minister Siddaramaiah has urged Prime Minister Narendra Modi to review the government's decision of disinvesting in Bengaluru-headquartered Bharat Earth Movers Limited (BEML) on the grounds of it being a strategic and profit making public sector enterprise.Siddaramaiah's letter to the PM is the first instance of the Congress opposition raising concerns over the Union Government's decision to sell 26 per cent stake in BEML and hand over management control to the buyer. "Disinvestment of strategic and profit making CPSE only leads to private sector investor reaping windfall benefits and profit at the cost of public and is likely to undermine the security of the country," wrote Siddaramaiah in the letter.The government gave an in-principle agreement to sell its stake in BEML in January as part of its overall plan to disinvest in PSUs that were not strategic in nature. The worker unions in BEML have strongly protested the move, arguing that they compete with private ...