BEML Rail

The government is likely to invite financial bids for the privatisation of BEML in the December quarter, an official said. Earlier this month, the corporate affairs ministry approved the demerger of land and non-core assets of BEML to BEML Land Assets Ltd. The official said that every shareholder of BEML will get shares in BEML Land Assets and the process of demerger would be completed by the end of September or early October. "Once the demerger process gets over by September-end or by early October, the financial bids for strategic sale of BEML would be invited," the official told PTI. The financial bids are expected in the October-December quarter and the draft share purchase agreement too would be finalised by then, the official added. In January last year, the government invited preliminary bids for selling 26 per cent stake in BEML along with the management control. Multiple Expressions of Interest (EoIs) were received by the government, after which the process of demerger w

New project wins and other segments will strengthen the already strong revenue visibility of three and a half years

Tie-ups through the EOIs would be for products that complement BEML's existing products

The metro and rail segment, which grew 45% in FY19, accounts for half the firm's order book

The coach, the first in the list of 500 to be delivered to the Mumbai Metro Rail Corporation, has been built by Bharat Earth Movers (BEML) at its Bengaluru facility in flat 75 days

CEBBCO and Titagarh Wagons rallied 38% and 28%, respectively, in the past eight trading days on BSE.