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Last Updated : Jan 10, 2020 11:46 AM IST | Source: Moneycontrol.com

Govt appoints consultancy firms for asset sale by BEML; stock up 3%

The appointment of consultants is for monetisation of identified assets of BEML.

 
 
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Shares of state-owned BEML gained 2.7 percent intraday on January 10 after the government appointed consultancy firms to sell off some assets of the company.

The construction equipment supplier and metro train manufacturer said Department of Investment and Public Asset Management (DIPAM), Government of India on January 9 intimated that CBRE South Asia and JLL Property Consultants (India) have been appointed as consultancy firms.

The appointment of consultants is for monetisation of identified assets of BEML, it added.

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Meanwhile, the company signed a Memorandum of Understanding (MoU) with IRCON International to explore and address opportunities in the overseas market by synergizing each other's strengths for large infrastructure projects in the transportation sector.

The stock was quoting at Rs 961.15, up Rs 15.55, or 1.64 percent on the BSE at 1122 hours IST.

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First Published on Jan 10, 2020 11:46 am
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